3.—(1) Subject to paragraph (2), Subdivision (2) of Division 1 of Part XIII (other than section 257) of the Act does not apply in relation to an offer of shares by Avi-Tech Holdings to all the shareholders of Avi‑Tech Electronics that is made in connection with the specified restructuring exercise. (2) The exemption under paragraph (1) only applies if, for the purpose of convening a meeting (called in this paragraph the shareholders’ meeting) that is ordered by the General Division of the High Court under section 210(1) of the Companies Act for the compromise or arrangement under which the specified restructuring exercise is to be carried out —| (a) | Avi‑Tech Electronics prepares and sends to each of its shareholders together with the notice of meeting, the circular relating to the compromise or arrangement that is required by the SGX‑ST Mainboard Rules or SGX‑ST (or both) to be sent to the shareholders; | | (b) | Avi‑Tech Electronics prepares, and sends or disseminates to each of its shareholders, at any time before the date of the shareholders’ meeting, any other document or information relating to the compromise or arrangement that is required by the SGX‑ST Mainboard Rules or SGX‑ST (or both) to be sent or disseminated to the shareholders; and | | (c) | the circular mentioned in sub‑paragraph (a) and (where required) the document or information mentioned in sub‑paragraph (b) provide sufficient information to the shareholder to enable the shareholder to make an informed decision on whether or not to agree to the compromise or arrangement, including —| (i) | all the information that is required to be provided to the shareholder under the SGX-ST Mainboard Rules or by SGX-ST (or both); and | | (ii) | the terms of the compromise or arrangement and details of the specified restructuring exercise. |
|
|
|