ASX is revising the temporary emergency capital raising measures that help listed entities affected by the COVID- 19 pandemic. The measures were introduced on 31 March 2020 and are due to expire on 30 November 2020.
From 16 September 2020, any entity wishing to rely on the measures must satisfy ASX that it is raising capital predominantly for the purpose of addressing the existing or potential future financial effect on the entity from the COVID-19 health crisis, and/or its economic impact.
Since their introduction, the measures have facilitated a wider range of capital raisings for entities affected by current market dislocation. This policy was reflected in ASX’s Listed@ASX Compliance Update 5/20 dated 1 May 2020.
ASX considers it prudent and timely to revise the settings given the stabilisation in market conditions. Further details are available in ASX’s Listed@ASX Compliance Update 9/20.
The revisions have been implemented by the publication of two replacement Class Waivers dated 15 September 2020: Temporary Extra Placement Capacity Class Waiver and Non-renounceable Offers Class Waiver.