This ADGM guidance document outlines requirements related to restricted securities, including background, restrictions, and categories of holders. It details implications for issuers and holders, procedures for applicants, restriction agreements, holding locks, free float calculation, and prospectus disclosure. The guidance aims to ensure transparency and manage risks associated with restricted securities.
Key requirements
- Issuers must understand the implications of restricted securities on their operations.
- Holders of restricted securities must understand the implications of holding such securities.
- Applicants must follow specific procedures related to restriction agreements and holding locks.
- Free float calculation must be performed according to the guidelines.
- Prospectus disclosure must include information about restricted securities.
Applies to: Issuers and holders of restricted securities within the ADGM jurisdiction, including founders, related parties, service providers, and investors.