Template Resolutions
Published: 9 April 2024
1 minute read
The template resolutions below can be used to help companies draft best-practice disapplication authority requests.
On 4 November 2022 the Pre-Emption Group published updated template resolutions aligned with the new Statement of Principles. The Template outlines good practice in requests for disapplication. The template provides for companies to propose separate resolutions to authorise companies to:
- Disapply pre-emption rights on up to ten per cent of the issued share capital; and
- Disapply pre-emption rights for an additional ten per cent for transactions which the Board determines to be an acquisition or other capital investment as defined by the Statement of Principles.
The template illustrates an approach which investors consider to be good practice. The Pre-Emption Group recommends companies use the template when putting forward resolutions to disapply pre-emption rights. The Pre-Emption Group would expect most companies to use the template resolutions for meetings moving forward. However, companies are responsible for ensuring that the resolutions that they propose are effective to achieve their purpose.
| Name | PEG Template Resolutions |
|---|---|
| Publication date | 4 November 2022 |
| Format | PDF, 124.0 KB |