Part V Disclosure Requirements
509(1) An issuer must issue an offering memorandum, or base and supplemental listing documents, in connection with an issue of structured warrants for which listing is sought.(2) A base listing document contains information which applies generally to all types of structured warrants for which listing may be sought. The base listing document must be supported by a supplemental listing document containing information specific to the issue of structured warrants for which listing is sought.(3) A base listing document may be valid for up to 12 months from the date it is published or the date the issuer issues its annual accounts, whichever is earlier.
The offering memorandum, or base and supplemental listing documents, must contain information in sufficient detail to enable investors to have a full and proper understanding of:—(1) the capacity of the issuer and guarantor (if any) to fulfill the obligations specified under the terms of the issue; and(2) the risks, rights and obligations associated with the structured warrants.
Without limiting Rule 510, the offering memorandum, or base and supplemental listing documents, must include the following information:—(1) terms and structure of the issue;(2) financial information on the issuer and its guarantor (if any);(3) financial information on the entity whose securities are the subject of the issue of structured warrants;(4) whether the issuer or another person will make a market in the structured warrants. If so, the identity of the Designated Market-Maker, the maximum spread between the bid and offer quotations, the minimum quantity to which the quotations apply, and the circumstances in which no quotation will be provided, must be disclosed. If there is no market maker, to provide an appropriate negative statement;(5) whether the issuer has authority to issue further structured warrants;(6) If the structured warrants are not fully covered by the underlying securities held by a trustee, a declaration that the issuer has appropriate risk management capabilities to manage the structured warrants issue; and(7) any other information required by the Exchange.
If, at any time after the issue of the offering memorandum or base and supplemental listing documents and before the listing of the structured warrants, the issuer becomes aware that:—(1) there has been a significant change affecting any matter contained in the document; or(2) a significant new matter has arisen, which would have been included in the document if it had arisen before the document was issued,
the issuer must issue a supplementary listing document providing details of the change or new matter.
While an issuer has structured warrants listed on the Exchange, it must announce through the Exchange the following information:—(1) the number of structured warrants exercised and number outstanding monthly or as required by the Exchange; and(2) the number of structured warrants not held by the issuer (or a company which is a member of the same group) every quarter or as required by the Exchange.
An issuer must immediately announce if it becomes aware that any obligation of the Designated Market-Maker is not being fulfilled.