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MAR 2.7 Recording of action taken

MAR 2.7.1G

For the application of this section see MAR 2.6.2 R.

MAR 2.7.2R
  1. (1)

    The stabilising manager must establish and keep a register in respect of each offer of securities covered by this chapter.

  2. (2)

    He must ensure that it contains, either in real time or updated overnight (from business day to business day):

    1. (a)

      the names of all agents appointed under MAR 2.6.4 R, and details of the terms of the appointment of each;

    2. (b)

      the general parameters (including the initial stabilising price) laid down by the stabilising manager for his agents and the date and time of their communication, variation or revocation;

    3. (c)

      each transaction effected in the course of stabilising action including:

      1. (i)

        the type of security;

      2. (ii)

        the unit price;

      3. (iii)

        the size;

      4. (iv)

        the date and time; and

      5. (v)

        details of the counterparty;

    4. (d)

      details of the allotment of relevant securities (allottee and amount allotted); and

    5. (e)

      details (so far as known to the stabilising manager) of any deal which 'counts' as a deal at a price above the then stabilising price for the purposes of MAR 2.5.5 R(2) (pricing after independent deals).

  3. (3)

    The register must be kept in the United Kingdom, or else be capable of being brought to, or reconstituted in, the United Kingdom within 48 hours of a request for access from anyone entitled to inspect it.

  4. (4)

    If the register is not kept in English, it must be capable of being converted into English within the 48 hour period mentioned in (3).

MAR 2.7.3R
  1. (1)

    During the three months from the end of the stabilising period, the stabilising manager must permit the issuer of the securities, on any business day, to inspect that part of the register which is kept under MAR 2.7.2 R (2)(c) (i) to (iv).

  2. (2)

    The obligation in (1) arises only if the offer related to an issue of relevant securities.

MAR 2.7.4R

The register must be retained for a period of at least three years from the date of the end of the stabilising period.