TKO 9.4 TKO 9.4 Reports in connection with profit forecasts
In all cases, the assumptions, accounting policies and calculations for a profit forecast must be examined and reported on by the auditors or reporting accountants.
When income from land and buildings is a material element in a profit forecast, that part of the forecast must be examined and reported on by an independent external valuer. This
Ruledoes not apply where the income is virtually certain, for example, known rents receivable under existing leases.
TKO 9.4.3 TKO 9.4.3
Any relevant profit forecast which has been made before the commencement of the
Bid Periodmust be examined, repeated and reported on in the document sent to shareholders.
TKO 9.4.3 Guidance
DFSAmay waive or modify the application of TKO Rule 9.3.3 if it is satisfied that circumstances are appropriate. See TKO Chapter 16 of these Rules. In exceptional circumstances, the DFSAmay accept that, because of the uncertainties involved, it is not possible for a forecast previously made to be reported on in accordance with the Rulesnor for a revised forecast to be made. In these circumstances, shareholders must be given a full explanation of why the requirements of the Rulesare not capable of being met.
Bid Documenthas been posted, the reports shall be included in the document containing the forecast or, when the forecast has been made in a public announcement (whether by newspaper or any other means of publication), in a document which shall be sent to shareholders with a minimum of delay after the announcement is published. The reports must be accompanied by a statement that those making them have given and not withdrawn their consent to publication.