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  • OFS-7.2 OFS-7.2 Announcement

    • OFS-7.2.1

      No person may make a public offer of securities unless a summary of the offering document has been published in two local daily newspapers, one in Arabic and one in English.

      January 2014

    • OFS-7.2.2

      The summary of the offering document must be published in at least a 52 cm x 31.5 cm format. For those papers whose pages are smaller than the prescribed size noted in this Paragraph, the publication must take place over 2 pages or more to meet the total size specified and must be clear and legible.

      January 2014

    • OFS-7.2.3

      The offering document must be made available to the public at least 5 calendar days prior to the commencement of the offering period and at the same time as publishing the summary of the offering document.

      January 2014

    • OFS-7.2.4

      The offering document available to the public must be identical to the printed proof version approved by the CBB.

      January 2014

    • OFS-7.2.5

      The offering document is available to the public when:

      (a) An announcement is made in accordance with Rule OFS-7.2.1;
      (b) It is publicly available in final printed form free of charge at the registered office of the issuer, lead manager and receiving bank for public offering and, if applicable, at the offices of the principal advisor or other designated advisor placing or selling the securities; and
      (c) If available in electronic form, it is available on the issuer's, lead manager's or other principal advisor's website.
      January 2014

    • OFS-7.2.6

      Announcements for a public offering must:

      (a) Contain a prominent statement to the effect that the advertisement is not an offering document and investors should not subscribe for any securities, except on the basis of information in the offering document;
      (b) Indicate the date of approval by the CBB of the offering document;
      (c) Indicate how the offering document may be obtained, including particulars of the internet website where a soft copy of the document can be found if available;
      (d) Include clear risk warnings, including the potential for loss that is to be prominently presented and not obscured or disguised; and
      (e) Be consistent with the information contained in the offering document.
      January 2014

    • OFS-7.2.7

      An issuer and its affiliated employees and professional advisors are prohibited from stating or disseminating any statements during the offering period that may lead to:

      (a) Encouragement of subscription for the securities;
      (b) Inducement of a particular person to deal in the securities;
      (c) Sale or purchase of the securities; or
      (c) Raising, lowering, maintaining or stabilising the market price of the securities in conjunction with dissemination or statement of misleading information.
      January 2014

    • OFS-7.2.8

      No announcement, advertisement or promotion of an offer of securities that would constitute or induce a person to subscribe for such securities may be made without meeting the requirements of Paragraph OFS-5.1.28.

      January 2014