Regulation 7

every person, alone or together with his associates, (collectively referred to in this regulation as the acquiring party) who is about —

to become a 12% controller or 30% controller of a designated postal licensee; or

to enter into a transaction that constitutes a consolidation with a designated postal licensee; and

the designated postal licensee concerned,unless separate applications are allowed by the Postal Authority.

where the acquiring party intends to acquire, by open market transaction, voting shares that are traded on a securities exchange, whether in Singapore or elsewhere —

if the acquiring party is required to make an offer to purchase all the voting shares in the designated postal licensee — a period starting at least 60 days before making such offer until any time after the acquiring party publicly announces its intention to make such an offer; or

in any other case — a period starting at least 60 days before the day upon which the acquiring party intends to make an offer for the voting shares in the designated postal licensee;

where the acquiring party intends to acquire voting shares that are not traded on a securities exchange or to acquire other than by open market transaction voting shares that are traded on a securities exchange, whether in Singapore or elsewhere — within a period of 30 days after entering into an agreement for the acquisition of the voting shares but at least 60 days before completion of the agreement;

where the acquiring party wishes to acquire the business of the designated postal licensee (or any part thereof) as a going concern — within a period of 30 days after entering into an agreement for the acquisition of the business but at least 60 days before completion of the agreement;

in all other cases — at least 60 days before the acquiring party enters into a transaction, exercises an option to acquire voting shares or exercises a right to have voting shares transferred to him —

that would result in the acquiring party becoming a 12% controller or 30% controller of the designated postal licensee; or

that constitutes a consolidation with the designated postal licensee.

contain the name, address and contact information of the acquiring party and of all associates and affiliates of the acquiring party;

contain the name, address and contact information of all associates and affiliates of the designated postal licensee in question;

describe any anticipated significant changes in the management or operations of the designated postal licensee;

describe the postal services provided by the designated postal licensee in question and the acquiring party, and by their respective associates and affiliates, and an estimate of their respective market share in postal services;

specify the following:

the percentage of voting shares held by the acquiring party;

the percentage of voting power controlled by the acquiring party;

the percentage of voting shares the acquiring party will hold if the application is approved;

the percentage of voting power the acquiring party will control if the application is approved;

any special or preferential rights granted to the acquiring party; and

any special or preferential rights that will be granted to the acquiring party if the application is approved; and

contain such other particulars and information as the Postal Authority may require in any particular case.

be accompanied by the following documents and information concerning the transaction that constitutes a consolidation with the designated postal licensee in question:

the consolidation agreement, including all its appendices, related side letters and other supporting documents;

all other agreements in the possession of either the designated postal licensee or the acquiring party that, while not directly addressing the consolidation, are an integral part of the transaction (such as covenants not to compete or licensing agreements) or that are necessary or relevant to assess and determine the likely competitive impact of the consolidation;

contain a chart indicating the relationship between the designated postal licensee in question and the acquiring party and their respective associates and affiliates, and the relevant interest in the designated postal licensee;

be accompanied by a copy of the latest annual report or audited annual financial statements of each of the designated postal licensee and the acquiring party;

contain a detailed statement describing the consolidation clearly, accurately and comprehensively and a good faith assessment of the likely impact of the consolidation on competition in any basic letter services market in which the designated postal licensee and the acquiring party and their respective associates and affiliates participate, together with a submission as to how the consolidation would serve the public interest, including the following information:

the basic letter services market in which the designated postal licensee and the acquiring party and their respective associates and affiliates participate;

the names, addresses and contact information of designated postal licensee, the acquiring party and their respective associates and affiliates who are the market participants;

an estimate of their respective market share and level of concentration in that market;

the structure of the market and the extent to which it facilitates unilateral anti-competitive conduct or concerted action by multiple participants;

the likelihood that output would be increased (either by existing market participants or new entrants) in response to a significant and non-transitory price increase;

the likelihood of customers switching to a competing service provider in response to a significant and non-transitory price increase; and

any efficiency that will result from the consolidation;

contain any condition that the applicants may wish to propose for the consideration of the Postal Authority (such as partial divestiture or the imposition of behavioural safeguards) that could reduce any potential adverse competitive impact of the consolidation and an explanation why such conditions would be adequate to address any competitive concern that might arise from the consolidation; and

contain such other particulars and information as the Postal Authority may require in any particular case to determine the likely impact of the consolidation on competition and the public interest.