| 1.0 | Introduction |
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| 1.1 | Rule 8.03(2) of the
Listing Requirements states that a Cash Company must comply with such
requirements as may be prescribed by the Exchange. |
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| 1.2 | This Guidance Note
sets out the disclosure obligations of a Cash Company. |
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| 2.0 | Disclosure
obligations of a Cash Company |
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| 2.1 | A Cash Company must
comply with the following disclosure requirements. A Cash Company must announce to the Exchange - |
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| | (a) | immediately upon
receipt of the Exchange’s notice that it is a Cash Company ("Initial
Announcement") - |
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| | | (i) | that the listed
corporation is a Cash Company; |
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| | | (ii) | the obligations of a Cash Company pursuant to this Guidance Note; |
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| | | (iii) | the consequences of
non-compliance with the aforesaid obligations; and |
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| | | (iv) | the status of the
Cash Company’s proposal to acquire a new core business, or the status of its
endeavours/steps to formulate such a proposal, whichever is applicable, or
where neither a proposal nor any endeavour to formulate such a proposal has
been undertaken, an appropriate negative statement to such effect; |
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| | (b) | the status of its proposal referred to in subparagraph (a)(iv) above and the number of months to the end of the relevant timeframes referred to in Rule 8.03(5) of the Listing Requirements ("Monthly Announcement"). The Cash Company must make the Monthly Announcement simultaneously with the announcement of its quarterly report pursuant to Rule 9.22 of the Listing Requirements. In any event, the Cash Company must make the Monthly Announcement not later than 2 months after the end of each quarter of a financial year until further notice from the Exchange; FAQ 8.14 |
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| | (c) | its compliance or
non-compliance with a particular obligation imposed pursuant to this Guidance
Note on an immediate basis; |
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| | (d) | details of the proposal which announcement must
fulfill the requirements set out in paragraph 2.2 below (“Requisite
Announcement”); and |
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| | (e) | where the Cash Company fails to regularise its condition, the dates of suspension and de-listing of its listed securities immediately upon notification of suspension and de-listing by the Exchange. |
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| 2.2 | The Requisite Announcement must - |
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| | (a) | contain details of the proposal; |
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| | (b) | include a timeline for the complete implementation of the proposal; and |
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| | (c) | be announced by
the Cash Company’s Sponsor. |
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| 2.3 | Before a Cash Company makes the Requisite Announcement, it must ensure that all agreements to be entered into with third parties as part of the proposal, have been duly executed by all parties to such agreements. |