PRM 8.2 Accompanying statement

For a forward-looking statement to be a protected forward-looking statement, the prospectus or MTF admission prospectus must include:

(1) a general accompanying statement in accordance with PRM 8.2.4R; and

(2) a content-specific accompanying statement in accordance with PRM 8.2.3R and PRM 8.2.5R.

The general accompanying statement only needs to appear once in the prospectus or MTF admission prospectus. 

A content-specific accompanying statement must appear immediately next to the protected forward-looking statement to which it relates.

The general accompanying statement must: 

(1) explain how to identify the protected forward-looking statements in the prospectus or MTF admission prospectus; and

(2) include the following wording to draw attention to the general characteristics of the protected forward-looking statements in the prospectus or MTF admission prospectus:

     (a) there is no guarantee that the projected outcome of a protected forward-looking statement will prove to be accurate;

     (b) there is a different liability standard for protected forward-looking statements compared with other information in the prospectus/MTF admission prospectus [Note: delete as applicable], which will make it more difficult to succeed in a claim for compensation in the event of any loss caused by a protected forward-looking statement; and

     (c) there is no obligation for a protected forward-looking statement to be updated, except in accordance with existing obligations where those apply.

The content-specific accompanying statement must: 

(1) identify the forward-looking statement as a protected forward-looking statement;

(2) include the principal assumptions upon which the protected forward-looking statement is based, in accordance with the following principles:

     (a) there must be a clear distinction between assumptions about factors which the members of the issuer's administrative, management or supervisory bodies can influence and assumptions about factors which are exclusively outside the influence of the members of the issuer's administrative, management or supervisory bodies;

     (b) the assumptions must be reasonable, readily understandable by investors, specific, precise and not relate to the general accuracy of the estimates underlying theprotected forward-looking statement; and

      (c) the assumptions must draw attention to those uncertain factors which could materially change the projected outcome of the protected forward-looking statement; and

(3) to the extent there are disclosures in the prospectus or MTF admission prospectus of historical financial information which is of the same type as information included in theprotected forward-looking statement, include a statement that the protected forward-looking statement is:

      (a) comparable with the historical financial information; and

      (b) consistent with the issuer's accounting policies.