MKT 6.2.3 Objectives of Buy-back Programmes

In order to benefit from the exemption provided for in the Regulations, a Buy-back Programme must comply with Rules 6.2.4, 6.2.5 and 6.2.6 of this chapter and the sole purpose of that Buy-back programme must be to reduce the capital of an Issuer (in value or in number of Shares) or to meet obligations arising from either of the following:

(1) Debt Financial Instruments exchangeable into equity Instruments; and
(2) Employee Share option programmes or other allocations of Shares to Employees of the Issuer or of an associate Company.