| Commentary

9.2 Exemptions

| Commentary

9.2 Exemptions

Perhaps the most important exemption from the Prospectus Rules is any offer of transferable securities to the public where the total consideration for the securities being offered in the EEA States is less than 5 million euros (calculated over a 12-month period)1. The other exemptions include2 the situations where3:

  1. 9.2.1

        the offer is made to or directed at qualified investors only;

  2. 9.2.2

        the offer is made to or directed at fewer than 150 persons, other than qualified investors, per EEA state;

  3. 9.2.3

        the minimum consideration which may be paid by any person for transferable securities acquired by him

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial