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  • Shareholders' Approval and Share Repurchase

    • MIR-4.19.38

      In addition to the aforementioned rules specified under Section MIR4.19, an issuer of equity security must seek prior approval of shareholders at a general meeting before entering into a market making agreement.

      Added: January 2019

    • MIR-4.19.39

      An issuer may repurchase its own shares for the purpose of market making after obtaining shareholders' approval.

      Added: January 2019

    • MIR-4.19.40

      The maximum number of shares that an issuer can repurchase for the purpose of market making must not exceed 3% of the total issued shares.

      Added: January 2019

    • MIR-4.19.41

      The repurchase limit of 3% referred to in Paragraph MAE-4.19.40 must be included as part of the overall repurchase limit of 10% set out under TMA-4.1.8.

      Added: January 2019

    • MIR-4.19.42

      Where an issuer undertakes share repurchase for the purpose of market making, the issuer must ensure that the share repurchase plan complies with the requirements of Module TMA (see Section TMA - 4.1).

      Added: January 2019