MKT 6.2.9 Disclosure and reporting conditions for Stabilisation
Past version: effective from 21/10/2015 - 20/10/2015
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(1) The following information shall be adequately publicly disclosed by Issuers, Offerors, or entities undertaking the Stabilisation acting, or not, on behalf of such persons, before the opening of the Offer period of the Relevant Securities:
(a) the fact that Stabilisation may be undertaken, that there is no assurance that it will be undertaken and that it may be stopped at any time;
(b) the fact that Stabilisation transactions are aimed to support the market price of the Relevant Securities;
(c) the beginning and end of the period during which Stabilisation may occur;
(d) the identity of the Stabilisation manager, unless this is not known at the time of publication in which case it must be publicly disclosed before any Stabilisation activity begins; and
(e) the existence and maximum size of any Overallotment Facility or Greenshoe Option, the exercise period of the Greenshoe Option and any conditions for the use of the Overallotment Facility or exercise of the Greenshoe Option.
(2) The details of all Stabilisation transactions must be notified by Issuers, Offerors, or entities undertaking the Stabilisation acting, or not, on behalf of such persons, to the Regulator no later than the end of the seventh daily market session following the date of execution of such transactions.
(3) Within one week of the end of the Stabilisation period, the following information must be adequately disclosed to the public by Issuers, Offerors, or entities undertaking the Stabilisation acting, or not, on behalf of such persons:
(a) whether or not Stabilisation was undertaken;
(b) the date at which Stabilisation started;
(c) the date at which Stabilisation last occurred; and
(d) the price range within which Stabilisation was carried out, for each of the dates during which Stabilisation transactions were carried out.
(4) Issuers, Offerors, or entities undertaking the Stabilisation, acting or not, on behalf of such persons, must record each Stabilisation order or transaction with, as a minimum, the following information:
(a) details of the names numbers of the Instruments bought or sold;
(b) the dates and times of the transactions;
(c) the transaction prices; and
(d) means of identifying the investment firms concerned.
(5) Where several Reporting Entities undertake the Stabilisation acting, or not, on behalf of the Issuer or Offeror, one of those persons shall act as central point of inquiry for any request from the Regulator.