The Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations

14. Power of Authority to extend, reopen or cancel

Edition: 2022-12-31 · In force

14. Power of Authority to extend, reopen or cancel

Where, in the opinion of the Authority, circumstances have occurred or new information has emerged that fundamentally alters the basis of approval of a public offer before the allotment date or date of listing in the case of an introduction which renders the information memorandum inadequate, the Authority may require the issuer–

(a)to issue a supplementary prospectus disclosing such additional information; or

(b)extend the offer to allow investors to make an informed decision in light of the new disclosure; or

(c)re-open the offer for such period as shall be determined by the Authority to allow investors either to re-confirm their applications for subscription or withdraw their applications; or

(d)cancel the offer.

[L.N. 30/2008, r. 9.]

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Source: Kenya Law