Listed Entity must not purchase its own Shares without the prior written approval of the DFSA.
DFSA may make its approval of a proposal by a Listed Entity to purchase its own Shares subject to conditions or restrictions.
Listed Entity which proposes to purchase more than 15% of any class of its Shares must do so only by way of a tender offer to all shareholders of that class.
(4) The procedures in Schedule 3 to the Regulatory Law apply to a decision of the
DFSA under (1) not to approve a purchase of Shares and under (2) to approve a proposal subject to conditions or restrictions.
(5) If the
DFSA decides to exercise its power under (1) not to approve a purchase of Shares or under (2) to make its approval subject to conditions or restrictions, the Listed Entity may refer the matter to the FMT for review.