Guidance

1. For the purposes of Rule 2.3.3, the Regulator considers "present requirements" to be a minimum period of 12 months from date of listing.
2. Rule 1.4 of A1.2.2 requires the Directors of an Issuer in its Prospectus to make a statement that it has sufficient working capital for its present requirements (i.e. a "clean" working capital statement). If an Applicant is unable to make a clean working capital statement, the Applicant would need to make a statement that it does not have sufficient working capital and explain how additional working capital will be provided.