TMA-3.3.12

Past version: Effective from 01 Jan 2009 to 31 Mar 2013
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An offer must not normally be made subject to a condition or pre-condition relating to financing. However the offer may be made subject to a condition or pre-condition relating to financing, where the offeror proposes to finance the cash consideration by an issue of new securities and as a result of which the offer must be made subject to any condition required as a matter of law or regulatory requirement, in order to issue such securities or to have them listed or admitted to trading. Conditions which will normally be considered necessary for such purposes include:

(a) the passing of any resolution necessary to create or allot the new securities and/or to allot the new securities on a non-pre-emptive basis (if relevant); and
(b) where the new securities are to be admitted to listing or to trading on any licensed exchange or market, any necessary listing or admission to trading condition.