Major Disposal
10.55
What is meant by "substantially all of a listed corporation's assets" under the definition of "Major Disposal" in paragraph 10.02(eA) of the Main LR?
Disposal of "substantially all of the listed corporation's assets" refers to a disposal by a listed corporation of almost all of its assets, which is so material that upon the completion of the transaction, it will result in the listed corporation triggering the criteria for a cash company under paragraph 8.03 and Practice Note 16 or any of the criteria prescribed under paragraph 8.04 and Practice Note 17 of the Main LR.