Examples of Closed Period in a sentence
The Approving Officer may give clearance during a Closed Period for a Restricted Person to sell (but not buy) Company shares (but not other Company Securities) in Exceptional Circumstances.
Subject to compliance with Article 19 of MAR, this Policy does not prohibit Dealing in the Company’s Securities during a Closed Period as outlined in Schedule 1.
The Restricted Person seeking clearance to Deal in the Securities must outline in writing to the Approving Officer the circumstances of their severe financial hardship or as to why their circumstances are otherwise exceptional, explain the transactions envisaged, why that transaction could not be executed at a time other than during a Closed Period, and that the proposed Dealing in the Securities is the only reasonable course of action available.
The ability of Restricted Person to carry out transactions in units or shares in a collective investment undertaking, or in financial instruments which provide exposure to a portfolio of assets, (as described above) during a Closed Period remains uncertain.
Until further guidance is available, it would be prudent for the Company to take advice before giving clearance to a Restricted Person to carry out such transactions during a Closed Period.