ADGM Guidance – Listing Applications and Eligibility (VER01.100425)

TABLE OF CONTENTS

Assets eligibility test (MKT 2.3.16) ... 44 Shares in public hands (MKT 2.3.10) ... 50 Additional general eligibility requirements for Debentures ... 52 Market capitalisation (MKT 2.3.9) ... 52 Additional general eligibility requirements for Warrants ... 52 Warrants (MKT 2.3.13) ... 52 Additional general eligibility requirements for Certificates which are depository receipts ... 53 Depository receipts (MKT 2.3.14) ... 53 OTHER CONSIDERATIONS ... 54 Listing Principles (MKT 2.2) ... 54 Corporate Governance Principles (MKT 9.2) ... 58 Systems and controls (MKT 8) ... 60 Ongoing nature of the listing eligibility requirements ... 60 Early consideration of ongoing obligations ... 61 FUNDS ... 63 WAIVERS AND MODIFICATIONS ... 65 FEES ... 66

INTRODUCTION

1. This Guidance is issued under section 15(2) of the Financial Services and Markets Regulations 2015 (“FSMR”). It should be read in conjunction with FSMR and the Market Rulebook (“MKT”) of the Financial Services Regulatory Authority (“FSRA”).

2. Pursuant to section 50(1) ...