18.4 ADVERTISEMENTS

The publication of advertisements connected with an offer or potential offer is prohibited unless the advertisement falls within one of the categories listed below. In addition, except where the advertisement falls within categories (i) or (viii), it must be cleared with the Panel in advance.

The categories are as follows:

(i) product advertisements not bearing on an offer or potential offer (where there could be any doubt, the Panel must be consulted);
(ii) corporate image advertisements not bearing on an offer or potential offer;
(iii) advertisements confined to non-controversial information about an offer (eg reminders as to closing times or the value of an offer). Such advertisements must avoid argument or invective;
(iv) advertisements comprising preliminary or interim results and their accompanying statement, provided the latter is not used for argument or invective concerning an offer;
(v) advertisements giving information, the publication of which by advertisement is required or specifically permitted by the Abu Dhabi Global Market;
(vi) advertisements communicating information relevant to holders of bearer securities;
(vii) advertisements comprising a tender offer;
(viii) advertisements which are notices relating to a scheme of arrangement; or
(ix) advertisements published with the specific prior consent of the Panel. (As examples, this might be given if it were necessary to publish a document, announcement or information during a postal strike or in the circumstances referred to in Guidance Notes issued under Paragraph 19))