183 A working programme

A working programme

There are many professionals involved in the exercise of listing a corporation, the content and issuance of prospectus. Therefore it is advisable that a working meeting should be called to allocate the various tasks and to establish some programme of work and a timetable for its completion.

Although it is not possible to suggest a universal timetable suitable for all occasions, actual experience in this field it is necessary to estimate a realistic time schedule for a particular case.

The professionals involved in making a prospectus operational are:

1. the company

2. underwriters

3. brokers to the issue

4. the company’s auditors

5. investigating accountants

6. trustee for the debenture holders

7. the company’s solicitors

8. solicitors for the underwriters

9. solicitors for the trustee for debenture holders

10. printers

11. stock exchanges

12. postal authorities

13. the press

14. the Securities Commission

In preparation of the prospectus time-line and task assignment, the following monitoring checklist and timeline need to be considered:

1. approval of the company’s own board, the underwriter and the trustee for debenture holders

2. consent from brokers, solicitors, bankers and auditors, for their names appearing

3. consent from auditors for their statement appearing in prospectus

4. consent of experts for opinions appearing in prospectus

5. approval of stock exchanges and the SC

6. bulk printing

7. registration

8. circulation through post and other outlets

For any revision to the registrable prospectus including the incorporation of comments received from prospectus exposure, the following are to be provided to the SC:

1. Soft copy of the revised and final and complete form of the registrable prospectus in PDF format;

2. letter of compliance from the principal adviser stating that the due diligence working group is aware of all comments raised and that the Group has seen and confirmed the revisions made to the registrable prospectus; and

3. Letter of confirmation (updated) from the principal adviser that the electronic copy of the prospectus is the same as the registrable prospectus registered with the SC.


BCS 202/05 Corporate Compliance Management Copyright © 2011 by Wawasan Open University. All Rights Reserved.


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