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Companies Act, 2008 (Act No. 71 of 2008)


Companies Regulations, 2011

Chapter 4 : Offerings of Company Securities

Part B : Requirements Concerning Offering of Securities

49. Letters of allocation in respect of unlisted securities


See section 99(4)


(1) A company desiring to issue a letter of allocation in respect of unlisted securities must—
(a) file a copy of—
(i) the letter of allocation for registration; and
(ii) any document required in the circumstances by section 99 (4);
(b) file any agreement referred to in a document contemplated in paragraph (a), with a translation in an official language, if the agreement is not already in an official language; and
(c) pay the prescribed fee as set out in Table CR 2B.


(2) Upon registering the documents referred to in sub-regulation (1), the Commission must deliver a certificate of the registration of the letter of allocation to the company concerned or the person who submitted them on behalf of the company.


(3) Every letter of allocation that is issued must—
(a) state on the face of it that a copy of it, together with copies of all other documents referred to in sub-regulation (1), have been filed; and
(b) include a statement advising that copies of every document referred to in sub-regulation (1) are available, and setting out the manner by which any such copy may be obtained.


(4) Sub-regulation (3)(b) does not apply to any letter of allocation issued in connection with a renunciation of part of the rights to subscribe in terms of the rights offer.