Application via information memorandum and the three month rule  |
|
|---|---|
| Rule: | IIA 4.4(2) |
| Date Requested: | Monday, December 10, 2007 |
| Requested By: | Australia & International Holdings |
| Date Approved: | Tuesday, December 11, 2007 |
| Approved By: | Compliance Committee |
| Issuer: | AID |
| Securities: | AID |
| Description of Rule: | The Exchange may allow an issuer to provide an information memorandum setting out the matters specified in Appendix 1 but only if: (i) the applicant satisfies the Exchange that: a. it has not raised any capital in the previous 3 months and does not expect it will raise capital in the next 3 months…. |
| Waiver Requested: | The applicant sought waiver relief as it operates a dividend reinvestment plan and has done so continuously for a number of years. The DRP does not require additional disclosure pursuant to the Corporations Act. Despite the issuance of securities pursuant to the DRP, the applicant sought to apply to list via an information memorandum. |
| Effect of Waiver: | Waiver relief was granted to Australia & International Holdings Limited to the extent necessary to allow application by information memorandum despite operation of the DRP within 3 months of listing. Relief would be granted subject to there being no change to the terms of the DRP within 3 months of the listing. |