Companies Act, 2008 (Act No. 71 of 2008)

Regulations

Companies Regulations, 2011

Chapter 4 : Offerings of Company Securities

Part C : Items required to be included in a Prospectus

70. Purpose of the offer
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Section 2, Paragraph 1 of every prospectus must set out—

(a)a statement of the purpose of the offer, giving reasons why it is considered necessary for the company to raise the amount sought under the prospectus; and
(b)if the amount sought under the prospectus is more than the amount of the minimum subscription referred to in regulation 73, the reasons for the difference between those amounts.