The basis for any statements made by the issuer regarding its competitive position. In respect of an investment vehicle, a detailed description of its investment strategy, which must include such matters as: the sectors, countries and regions in which it will consider making investments; what expertise the directors of the issuer have in such sphere of activity; the identity and expertise of any discretionary fund managers or investment professionals involved in investment decisions; whether it will be an active or passive investor, and how widely it intends to spread its investments; and whether or not the issuer intends to return its cash to shareholders in the event that the issuer fails to substantially implemented its investment strategy. Guidance Note on Paragraph 14 of Appendix 1 The investment strategy must be sufficiently precise in terms of sector and geographical focus to allow a reasonable investor to make an informed assessment of the issuer’s focus, prospects and the expertise that the directors of the issuer have in such sphere of activity. The directors will be expected to limit their focus to a particular sector and region. In the case of an investment vehicle, a statement that if the issuer has not made a material investment within one year following admission it will either seek shareholders’ approval in respect of each subsequent year for the further pursuit of its investment strategy or return its cash to shareholders, and that such approval will be sought in each subsequent year if it has not made by then a material investment. Organisational Structure If the issuer is a member of a group, a brief description of the group and of the issuer’s position within the group. A list of the issuer’s significant subsidiaries, including name, country of incorporation or residence, proportion of ownership interest and, if different, proportion of voting power held.
The basis for any statements made by the issuer regarding its competitive position. In respect of an investment vehicle, a detailed description of its investment strategy, which must include such matters as: the sectors, countries and regions in which it will consider making investments; what expertise the directors of the issuer have in such sphere of activity; the identity and expertise of any discretionary fund managers or investment professionals involved in investment decisions; whether it will be an active or passive investor, and how widely it intends to spread its investments; and whether or not the issuer intends to return its cash to shareholders in the event that the issuer fails to substantially implemented its investment strategy. Guidance Note on Paragraph 14 of Appendix 1 The investment strategy must be sufficiently precise in terms of sector and geographical focus to allow a reasonable investor to make an informed assessment of the issuer’s focus, prospects and the expertise that the directors of the issuer have in such sphere of activity. The directors will be expected to limit their focus to a particular sector and region. In the case of an investment vehicle, a statement that if the issuer has not made a material investment within one year following admission it will either seek shareholders’ approval in respect of each subsequent year for the further pursuit of its investment strategy or return its cash to shareholders, and that such approval will be sought in each subsequent year if it has not made by then a material investment. Organisational Structure If the issuer is a member of a group, a brief description of the group and of the issuer’s position within the group. A list of the issuer’s significant subsidiaries, including name, country of incorporation or residence, proportion of ownership interest and, if different, proportion of voting power held.
ISDX%20Rules%20July%202016%20mark%20up.docx