Offer Document or Placement Memorandum

95. (1) The offer document or the placement memorandum of an Investment Trust shall contain material, true, correct and adequate disclosures to enable the investors to make an informed investment decision. (2) The offer document or placement memorandum shall include all information as required by the recognised stock exchange(s) and in such format as specified by the recognised stock exchange(s), including: (a) Introduction; (b) Details of sponsor(s), Investment Manager, Project Manager, Trustee and other relevant parties; (c) Brief background of the Investment Trust; (d) Description of the assets under the Investment Trust; (e) Business Details and Strategy; (f) Leverage; (g) Conflict of Interest and Related party transactions; (h) Valuation; (i) Financials; (j) Rights of Unit Holders; (k) Title disclosures, litigations and regulatory actions; (l) Risk Factors; (m) Taxation. (3) The following documents shall be submitted to the Authority: (a) Valuation report along with the offer document/ placement memorandum; (b) Project implementation/management agreement, along with draft offer document or the placement memorandum; (c) Due diligence certificate along with the draft offer document and offer document/ placement memorandum; and (d) In principle approval from the recognised stock exchange(s). (4) The placement memorandum of an Investment Trust whose units are not proposed to be listed on a recognised stock exchange shall contain all information, to the extent applicable, as specified for an Investment Trust whose units are proposed to be listed on a recognised stock exchange.