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810

(1) An issuer which intends to issue shares, company warrants or other convertible securities for cash must announce the issue promptly, stating the terms of the issue and the purpose of the issue including the following:—
(a) the identity of the placement agent appointed or to be appointed for the issue, where applicable;
(b) the amount of proceeds proposed to be raised from the issue; and
(c) the intended use of such proceeds on a percentage allocation basis (which could be expressed as a range if the exact allocation has not been determined).
(2) Where no placement agent is appointed for the issuer or where a placement agent is appointed but is subject to any restrictions and directions imposed by the issuer regarding the identities of and/or the allocation to the placees, the issuer must also include in its announcement:—
(a) The identities of the placees and the number of shares placed to each of them;
(b) Details on how the placees were identified and the rationale for placing to them; and
(c) The restrictions and/or directions imposed on the placement agent by the issuer regarding the identities of and/or the allocation to the placees, where applicable.