If a sponsor or an issuer intends to end the sponsorship, the out-going sponsor must do the following:
(1) Notify the Exchange as follows:
(a) if the sponsor is ending the sponsorship, it must give no less than 3 months' notice; or
(b) if the issuer is ending the sponsorship, the sponsor must inform the Exchange as soon as the issuer has indicated its intention to end the sponsorship.
The notification must include the reasons for ending the sponsorship.
(2) Continue its sponsorship of the issuer during the notice period, unless a new sponsor agrees to take over before the expiry of the period.
(3) Be available to discuss in a constructive and forthcoming manner with a new sponsor, its experiences with the issuer and the reasons for ending the sponsorship.
(4) Provide any documents or information that the Exchange requires.
(5) Provide to the issuer, in a form suitable for release to the market, confirmation that it is not aware of any non-compliance with the Rules by the issuer that has not been brought to the attention of the new sponsor, or if there is no new sponsor, the Exchange. The issuer must release the confirmation via SGXNET.
Refer to Practice Note 2C — Guidelines for Continuing Sponsorship.