(1) For the purposes of Rule 7.2.2(2), a Reporting Entity may selectively disclose Inside Information to a Person prior to making market disclosure of such information only if:
(a) it is for the purposes of the exercise by such a Person of his employment, profession or duties;
(b) that Person owes to the Reporting Entity a duty of confidentiality, whether based on law, contract or otherwise; and
(c) the Reporting Entity has provided to that Person, except where that Person is the Regulator, a written notice as specified in (3).
(2) For the purposes of (1)(a), the Persons whose exercise of employment, profession or duties may warrant selective disclosure are as follows:
(a) any adviser, underwriter, Sponsor or compliance adviser;
(b) an agent employed by the Reporting Entity to release the information;
(c) Persons with whom the Reporting Entity is negotiating with a view to effecting a transaction or raising finance, including prospective underwriters or Sponsors of an issue of Financial Instruments, providers of finance or loans or the placement of the balance of a rights issue not taken up by Shareholders;
(d) the Regulator or another regulator where such disclosure is necessary or desirable for the regulator to perform its functions;
(e) a Person to whom the Reporting Entity discloses information in accordance with a lawful requirement;
(f) a major Shareholder of the Reporting Entity; or
(g) any other Person to whom it is necessary to disclose the information in the ordinary course of business of the Reporting Entity.
(3) For the purposes of (1)(c), the Reporting Entity must, before making disclosure to a Person, provide to that Person a written notice that:
(a) the information is provided in confidence and must not be used or be allowed to be used for a purpose other than the purpose for which it is provided; and
(b) the recipient must take reasonable steps to ensure that the recipient or any Person having access to the information through the recipient does not deal in the relevant Financial Instruments, or any other related investment, or disclose such information without legitimate reason, prior to market disclosure of that information by the Reporting Entity.
(4) Where a Reporting Entity makes selective disclosure of Inside Information pursuant to (1), it must ensure that a full announcement is made to the market as soon as possible, and in any event, when it becomes aware or has reasonable grounds to suspect that such information has or may have come to the knowledge of any Person or Persons other than those to whom the selective disclosure was made.