Amendments made to the CSE Listing Rules in the Year 2013

This document ONLY contains a reference to the amendments made to the CSE
Listing Rules. Please refer the CSE Listing Rules for the complete Rule.

SECTION 2 – LISTING OF SHARES AND DEBENTURES

1. Rules 2.1.1 (d) and (e) – Rules pertaining to ‘lock‐in’ of shares were introduced with
regard to an Offer for Subscription and Offer for Sale (CSE Notification dated 7th
November 2013).

2. By way of CSE Circular No. 03/2013 dated 9th December 2013 the following
amendments were carried out

(i) Rule 2.1.1 (f)‐ Lock –in of shares in the event of an Introduction.
(ii) Rule 2.1.3 (c) ‐ Public Holding requirement to be listed on the Diri Savi Board.
(iii) Rule 2.2.1 (c) – Debt ‐ Eligibility to be listed.
(iv) Rule 2.2.1 (d) ‐ Debt ‐ ‐ The eligibility to be listed on the Second Board, deleted. A
‘Savings’ provision has been included
(v) Rule 2.2.1 (e) ‐ Mandatory publication of a revision to the Rating
Rule 2.2.1 (f) ‐ Introduction of a prohibition on listed entities to issue debt
securities in certain instances
(vi) Rule 2.2.1 (g) ‐ Minimum tenor for Debt Securities to be listed
(vii) Rule 2.2.1 (h)‐ Debt ‐ Minimum Subscription Requirement applicable to an
Investor
(viii) Rule 2.2.1 (i) ‐ Par Value of Debt Securities
(ix) Rule 2.2.2 (b) and (c)‐ Initial Listing Application

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SECTION 3 – CONTENTS OF A PROSPECTUS AND INTRODUCTORY DOCUMENT

1. Rule 3.2 – The Rules were amended to state that entities seeking a listing of their debt
securities on the CSE need not attach the Trust Deed to the hard copy of the prospectus
/ Introductory Document. Instead the said Trust Deed should be made available for
inspection and be hosted on the entities web site and the CSE’s web site until the date
of maturity of the debt security (CSE Circular No. 01/2013 dated 26th April 2013).

2. Rule 3.1‐ Contents of a prospectus were amended to include disclosures pertaining to

‘lock‐in’ of shares in the case of an Offer for Subscription and Offer for Sale (CSE
Notification dated 7th November 2013).

3. By way of CSE Circular No. 03/2013 dated 9th December 2013 the following
amendments were carried out

(i) Rule 3.1.5 (b) ‐ Rules on Basis of allotment in the case of an IPO of shares
(CSE Circular No. 03/2013 dated 9th December 2013).
(ii) Rule 3.2 ‐ Contents of a Prospectus for an unlisted entity – Debt
(iii) Rule 3.3 ‐ Contents of a Prospectus for a listed entity – Debt
(iv) Rule 3.4 ‐ Contents of an Introductory document for unlisted entities
seeking a listing of shares or debt
(v) Rule 3.5 ‐Contents of an Introductory document for listed entities – Debt

SECTION 7 – CONTINUING LISTING REQUIREMENTS

1. Rule 7.12 – A new Rule was introduced pertaining to Ratings/ Revisions in ratings
assigned to debt securities (CSE Circular No. 03/2013 dated 9th December 2013).

GENERAL

1. The CSE Listing Rules have been amended to facilitate the implementation of a
dematerialized system. Accordingly all references to ‘share certificates’ have been
deleted in the Rules [as applicable] (CSE Circular No. 03/2013 dated 9th December 2013).

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