LR 10.5 Class 1 requirements
Notification and shareholder approval
A listed company must, in relation to a class 1 transaction:
- (1)
comply with the requirements of LR 10.4 (Class 2 requirements) for the transaction;
- (2)
send an explanatory circular to its shareholders and obtain their prior approval in a general meeting for the transaction; and
- (3)
ensure that any agreement effecting the transaction is conditional on that approval being obtained.
Note: LR 13 sets out requirements for the content and approval of class 1 circulars.