LR 12.3 Purchase from a related party
Where a purchase by a listed company of its own equity securities or preference shares is to be made from a related party, whether directly or through intermediaries, LR 11 (Related party transactions) must be complied with unless:
- (1)
a tender offer is made to all holders of the class of securities; or
- (2)
in the case of a market purchase pursuant to a general authority granted by shareholders, it is made without prior understanding, arrangement or agreement between the listed company and any related party.