General requirements for new issue of securities
D Sdn Bhd, a subsidiary of A Bhd, a listed issuer. D Sdn Bhd intends to issue shares to a director of A Bhd. What are the obligations set out in paragraph 6.06 and Part E of Chapter 10 of the Main LR that A Bhd must comply with?
Pursuant to paragraph 6.06(1) of the Main LR, A Bhd must obtain shareholder approval for the proposed allotment/issuance. A Bhd must also comply with the requirements of Part E of Chapter 10 of the Main LR as this is not a transaction exempted under paragraph 10.08(11)(a) of the Main LR. As such, the announcement in relation to the issuance/allotment must include the information set out in Appendices 10A and 10C of Chapter 10 and the circulars to shareholders must include the information in Appendices 10B and 10D of Chapter 10.