General requirements for new issue of securities
6.15
D Sdn Bhd, a subsidiary of A Bhd, a listed corporation. D Sdn Bhd intends to issue shares to a director of A Bhd. What are the obligations set out in Rule 6.07 and Part E of Chapter 10 of the ACE LR that A Bhd must comply with?
Pursuant to Rule 6.07(1) of the ACE LR, A Bhd must obtain shareholder approval for the proposed allotment/issuance. A Bhd must also comply with the requirements of Part E of Chapter 10 of the ACE LR as this is not a transaction exempted under Rule 10.08(11)(a) of the ACE LR. As such, the announcement in relation to the issuance/allotment must include the information set out in Appendices 10A and 10C of Chapter 10 and the circulars to shareholders must include the information in Appendices 10B and 10D of Chapter 10.