Regulation 16

must assign a specific number to each copy of the report;

must keep a record of each person to whom the person issuing the report has distributed a copy of the report, and the number mentioned in sub‑paragraph (a) of the copy distributed to that person;

must include on the front cover of each copy of the report —

the number mentioned in sub‑paragraph (a) that is assigned to that copy of the report;

a prominent statement that the report is distributed to institutional investors only;

a prominent statement that the information contained in the report should not be disclosed by the recipient of the report to any other person;

a prominent disclosure on the nature of any material interest that the person issuing the report has (at the date of the report) in, or in the issue or sale of, the securities or securities‑based derivatives contracts that are the subject of the report; and

a prominent disclosure on any relationship, between the person issuing the report and the person making the offer of the securities or securities‑based derivatives contracts, that is material in the context of the offer;

must not —

distribute any copy of the report; or

disclose any information contained in the report (other than information that is publicly available prior to the date of the report),to any person other than an institutional investor; and

must take all other reasonable steps as are necessary to prevent the leakage of information contained in the report (other than information that is publicly available before the date of the report) to any person who is not an institutional investor, including any person who, in the ordinary course of business, publishes a newspaper, periodical or magazine, or broadcasts by radio, television or other means of broadcasting or communication.