if the authority sought is a general one, a statement of the directors' intentions about using the authority;
if the authority sought related to a proposal to purchase from specific parties, a statement of the names of the persons from whom equity shares are to be acquired together with all material terms of the proposal;
details about the price, or the maximum and minimum price, to be paid; and
the total number of warrants and options to subscribe for equity shares that are outstanding at the latest practicable date before the circular is published and both the proportion of issued share capital (excluding treasury shares) that they represent at that time and will represent if the full authority to buyback shares (existing and being sought) is used.
If the exercise in full of the authority sought would result in the purchase of 25% or more of the company's issued equity shares (excluding treasury shares) the circular must also include the following information referred to in the PD Regulation2:2
Annex 1 item 4 – Risk factors;
Annex 1 item 12 – Trend information;
Annex 1 item 17.2 – Director's interests in shares;
Annex 1 item 18.1 – Major interests in shares;
Annex 1 item 20.9 – Significant changes;
Annex 3 item 3.1 – Working capital (this must be based on the assumption that the authority sought will be used in full at the maximum price allowed and this assumption must be stated). This information is not required to be included in a circular issued by a closed-ended investment fund.1
Status: You are viewing the version of the handbook as on 2009-03-31.