Mascot Finance Limited - Exemption Notice 2008
Retrospective exemptions for certain specified persons from rule 6(1) of the Code in respect of any increase in those persons' voting control in Mascot Finance Limited as a result of certain specified historical transactions. Mascot had issued redeemable preference shares to members of the public. Although the redeemable preference shares were not voting securities for the purposes of the Code, the holders of those redeemable preference shares were considered to be shareholders for the purposes of the Code. Between September 2002 and March 2007, a number of transactions were undertaken that resulted in the current Mascot ordinary shareholders increasing their respective control percentages in Mascot. These increases in voting control appeared to have resulted in inadvertent breaches of the Code.