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Exemption

Securities and Futures (Offers of Investments) (Exemption for APAC Realty Limited Performance Share Plan) Regulations 2023

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—(1) Subject to paragraph (2), Subdivision (2) of Division 1 of Part 13 (other than section 257) of the Act does not apply in relation to an offer of shares by the company under the APAC Realty Limited Performance Share Plan to any person who —(a)is an agent of the company who leads a group of estate agents of the company, or an agent of any subsidiary of the company who leads a group of estate agents of that subsidiary of the company, as the case may be; and(b)bears the title of “Senior Director of Agency”, “Chief Agency Director”, “Emeritus Agency Group Division Director” or “Executive Director of Agency”.(2) The exemption under paragraph (1) only applies if —(a)the company gives to any person to whom the company makes the offer, a written statement that —(i)the offer is made in reliance on an exemption granted by the Authority pursuant to these Regulations; and(ii)the offer is not made in, or accompanied by, a prospectus that is registered by the Authority; and(b)no selling or promotional expenses are paid or incurred in connection with the offer other than those incurred for administrative or professional services, or by way of commission or fee for services, rendered by —(i)a person who holds, or is exempted from the requirement to hold, a capital markets services licence to carry on business in the regulated activity of dealing in capital markets products that are securities or securities‑based derivatives contracts; or(ii)a person who is licensed, approved, authorised or otherwise regulated (or who is exempted from such regulation) under the laws, codes or other requirements of any foreign jurisdiction for dealing in capital markets products that are securities or securities‑based derivatives contracts.

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