(1) a sponsor shall have minimum standards of quality, systems, resources, experience and expertise to comply with the Rules, which includes assessing the suitability of companies for listing on Catalist and advising issuers on compliance with the Rules;

(2) an issuer shall have minimum standards of quality, operations, management experience and expertise;

(3) investors and their professional advisers shall be given all information that they would reasonably require to make an informed assessment of the securities for which listing is sought;

(4) an issuer shall disclose information if a reasonable person would expect that information to have a material effect on the price or value of its listed securities;

(5) all holders of listed securities shall be treated fairly and equitably; and

(6) directors of an issuer shall act in the interests of shareholders as a whole, particularly where a director or substantial shareholder has a material interest in a transaction entered into by the issuer.

(7) The Exchange reserves the right to subject a listed issuer's change in principal business to the Exchange's approval if in the Exchange's opinion: