offer of transferable securities to the public

(in PR and LR) (as defined in section 102B of the Act), in summary:

1. (a) a communication to any person which presents sufficient information on:
   1. (i) the transferable securities to be offered, and
   2. (ii) the terms on which they are offered;
   to enable an investor to decide to buy or subscribe for the securities in question;
2. (b) which is made in any form or by any means;
3. (c) including the placing of securities through a financial intermediary;
4. (d) but not including a communication in connection with trading on:
   1. (i) a regulated market;
   2. (ii) a multilateral trading facility; or
   3. (iii) any market prescribed by an order under section 130A of the Act.

Note: This is only a summary; to see the full text of the definition, readers should consult section 102B of the Act.20