LR 10.5 Class 1 requirements

A listed company must, in relation to a class 1 transaction:

1. (1)

   comply with the requirements of LR 10.4 (Class 2 requirements) for the transaction;

2. (2)

   send an explanatory circular to its shareholders and obtain their prior approval in a general meeting for the transaction; and

3. (3)

   ensure that any agreement effecting the transaction is conditional on that approval being obtained.

Note: LR 13 sets out requirements for the content and approval of class 1 circulars.