Recurrent related party transaction of a revenue or trading nature and necessary for its day to day operations (“RRPT”)
Must a listed issuer obtain shareholder approval for RRPTs, where such transactions reach the threshold that requires shareholder approval?
Yes, however, the
shareholder approval may be in the form of a general mandate from shareholders
procured on a yearly basis pursuant to paragraph 10.09 of the Main LR. Where no
general mandate is obtained from its shareholders, specific shareholder
approval must be obtained for such transactions that reach the threshold which
requires shareholder approval before the said transaction is completed.