Catalist Rules
1401
This Chapter sets out the requirements and procedures for an existing issuer to comply with the Catalist Rules.
1402
The Exchange may from time to time publish additional transition requirements in Practice Notes that must be complied with.
Refer to Practice Note 14A — Catalist Transition Process and Timetable.
1403
(1) The Exchange will publish a date from which all existing issuers must comply with the Catalist Rules ("Transition Date"). At least 12 months' notice will be given.
(2) The Exchange may impose conditions.
(3) An existing issuer must meet the following requirements by the Transition Date:
(a) Complete and submit Appendix 14A with the Exchange.
(b) Comply with any conditions the Exchange imposes.
(c) Announce its intention to the market giving no less than 1 month's notice. The announcement must include:
(i) the name of its sponsor; and
(ii) the date from which it will comply with the Catalist Rules as agreed with the Exchange.
(d) Send a copy of the announcement to each shareholder on the register at the date of the announcement.
(4) Existing issuers on Catalist must continue to comply with the Former Sesdaq Rules until the requirements in Rule 1403(3) have been met.
1404
(1) An existing issuer may be removed from the Official List of Catalist if it has not complied with Rule 1403.
(2) If an existing issuer is delisted, the Exchange may require the existing issuer to offer a reasonable exit alternative, which should normally be in cash, to:
(a) its shareholders; and
(b) holders of any other classes of listed securities to be delisted.
The issuer should normally appoint an independent financial adviser to advise on the exit offer.
1405
(1) An existing issuer that changes from complying with the Former Sesdaq Rules to complying with Catalist Rules, must continue its existing moratorium, if applicable.
(2) Rule 406(1) will not apply to such existing issuers unless the Exchange determines otherwise.