Home   Browse contents   View updates   Search  
     Quick search
Go
   

Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Markets Rules (MKT) [VER15/07-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

Whole SectionText only Print Print Manager Link


  Versions
(3 versions)
 

MKT 2.4.1

View whole sectionWhole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

For the purposes of Article 14(3)(b) of the Law the DFSAG hereby prescribes the types of SecuritiesG that are Exempt SecuritiesG :

(a) SharesG representing, over a period of 12 months, less than 10 per cent of the number of SharesG of the same class already admitted to trading on the same Authorised Market InstitutionG ;
(b) SharesG issued in substitution for SharesG of the same class already admitted to trading on the same Authorised Market InstitutionG , if the issue of the SharesG does not involve any increase in the issued capital;
(c) SecuritiesG offered in connection with a TakeoverG by means of an exchange offer, if a document is available containing information which is regarded by the DFSAG as being equivalent to that of a ProspectusG ;
(d) SecuritiesG offered, allotted or to be allotted in connection with a merger, if a document is available containing information which is regarded by the DFSAG as being equivalent to that of the ProspectusG ;
(e) SecuritiesG offered, allotted or to be allotted in connection with a rights issue if:
(i) the SecuritiesG are of the same class as the SecuritiesG already admitted to trading on the same Authorised Market InstitutionG ; and
(ii) a document is made available containing information on the number and nature of the SecuritiesG and the reasons for and details of the offer;
(f) SharesG offered, allotted or to be allotted to existing shareholders free of charge, or in respect of dividends paid out in the form of SharesG of the same class as the SharesG in respect of which the dividends are paid, if:
(i) the SharesG are of the same class as the SharesG already admitted to trading on the same Authorised Market InstitutionG ; and
(ii) a document is made available containing information on the number and nature of the SharesG and the reasons for and details of the offer;
(g) SecuritiesG offered, allotted or to be allotted to an existing or former director or EmployeeG , or any Close RelativeG of such a director or EmployeeG , of the IssuerG or a member of the same GroupG as the IssuerG and if:
(i) the SecuritiesG are of the same class as the SecuritiesG already admitted to trading on the same Authorised Market InstitutionG ; and
(ii) a document is made available containing information on the number and nature of the SecuritiesG and the reasons for and detail of the offer;
(h) SharesG resulting from the conversion or exchange of other SecuritiesG or from the exercise of the rights conferred by other SecuritiesG , if the SharesG are of the same class as the SharesG already admitted to trading on the same Authorised Market InstitutionG ; or
(i) SecuritiesG already admitted to trading on another Authorised Market InstitutionG or Regulated ExchangeG ("the other market"), where:
(i) the SecuritiesG , or SecuritiesG of the same class, have been admitted to trading and continuously traded on the other market for more than 18 months;
(ii) the ongoing obligations for trading on that other market have been complied with; and
(iii) the PersonG requesting the admission to trading of the Securities under this exemption makes a summary document in the English language which is approved by the DFSAG in accordance with the requirements in section 2.6 and published:
(A) containing the information set out in Rule 2.5.2(1)(b) and such other information as the DFSAG may require;
(B) stating where the most recent and current ProspectusG , if any, can be obtained; and
(C) specifying where the financial information published by the IssuerG pursuant to its ongoing disclosure obligations of the other market is available.
Derived from RM81/2011 (Made 30th November 2011). [VER1/11-11]
[Amended] DFSA RM120/2013 (Made 14th July 2013). [VER4/07-13]
[Amended] DFSA RM212/2018 (Made 22nd February 2018). [VER11/04-18]