Companies Act 1985

Details relating to the offer

3 (1) The prospectus must state—

(a) the time of the opening of the subscription lists, and

(b) the amount payable on application and allotment on each share (including the amount, if any, payable by way of premium).

(2) In the case of a second or subsequent offer of shares, there must also be stated the amount offered for subscription on each previous allotment made within the 2 preceding years, the amount actually allotted and the amount (if any) paid on the shares so allotted, including the amount (if any) paid by way of premium.

4 (1) There must be stated the number, description and amount of any shares in or debentures of the company which any person has, or is entitled to be given, an option to subscribe for.

(2) The following particulars of the option must be given—

(a) the period during which it is exercisable,

(b) the price to be paid for shares or debentures subscribed for under it,

(c) the consideration (if any) given or to be given for it or the right to it,

(d) the names and addresses of the persons to whom it or the right to it was given or, if given to existing shareholders or debenture holders as such, the relevant shares or debentures.

(3) References in this paragraph to subscribing for shares or debentures include acquiring them from a person to whom they have been allotted or agreed to be allotted with a view to his offering them for sale.

5 The prospectus must state the number and amount of shares and debentures which within the 2 preceding years have been issued, or agreed to be issued, as fully or partly paid up otherwise than in cash ; and—

(a) in the latter case the extent to which they are so paid up, and

(b) in either case the consideration for which those shares or debentures have been issued or are proposed or intended to be issued.