Transferable securities included in an offer where F1F3the total consideration for the transferable securities being offered in the EEA States is less than F41,000,000 euros (or an equivalent amount).

Sub-paragraphs (3) to (5) of paragraph 8 apply for the purposes of this paragraph but with the references in sub-paragraph (3) to “sub-paragraph (2)(a)” being read as references to “paragraph 9(1)”.