A company must have shareholder approval for an issue amounting to more than 15% of capital.  |
|
|---|---|
| Rule: | 2A 6.25 |
| Date Requested: | Friday, November 30, 2007 |
| Requested By: | Dibbs Abbott Stillman |
| Date Approved: | Wednesday, December 5, 2007 |
| Approved By: | Compliance Committee |
| Issuer: | RGW |
| Securities: | RGWB |
| Description of Rule: | The directors of the issuer shall obtain the consent of shareholders in general meeting prior to issuing equity securities above a number calculated according to the following formula: -[(A+B+C) x 0.15] - D |
| Waiver Requested: | The issuer sought a waiver as the cash component of a prospectus offer raised 15.33% rather than 15%. The issuer had already received shareholder approval to raise significant amounts of new capital via conversion of other instruments. |
| Effect of Waiver: | NSX approves the waiver of NSX Listing Rule Section 2A 6.25 to Ricegrowers Limited to the extent necessary to allow the issuer to accept the applications the subject of the waiver request without further shareholder approval. |