Contents
- 1. Every significant new factor, material mistake or material…
- 2. Where the prospectus relates to an offer of securities to…1 change
- 2a. By way of derogation from paragraph 2, from 18 March 2021…2 changes
- 3. Where investors purchase or subscribe securities through a…1 change
- 3a. By way of derogation from paragraph 3, from 18 March 2021…2 changes
- 4. Where the issuer prepares a supplement concerning informat…
- 4a. A supplement to a base prospectus shall not be used to int…1 change
- 5. In the event that the significant new factor, material mis…
- 6. When scrutinising a supplement before approval, the compet…
- 7. ESMA shall develop draft regulatory technical standards to…
- 8. ESMA shall by 5 June 2026 develop guidelines to specify th…1 change
2.Where the prospectus relates to an offer of securities to the public, investors who have already agreed to purchase or subscribe for the securities before the supplement is published shall have the right, exercisable within three working days after the publication of the supplement, to withdraw their acceptances, provided that the significant new factor, material mistake or material inaccuracy referred to in paragraph 1 arose or was noted before the closing of the offer period or the delivery of the securities, whichever occurs first. That period may be extended by the issuer or the offeror. The final date of the right of withdrawal shall be stated in the supplement.The supplement shall contain a prominent statement concerning the right of withdrawal, which clearly states all of the following:
(a)a right of withdrawal is only granted to those investors who had already agreed to purchase or subscribe for the securities before the supplement was published and where the securities had not yet been delivered to the investors at the time when the significant new factor, material mistake or material inaccuracy arose or was noted;
(b)the period during which investors can exercise their right of withdrawal;
(c)whom investors may contact if they wish to exercise the right of withdrawal.
Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.