A reporting issuer is not subject to section 2.3 or 2.5 if, on the 25th day before the record
date for notice of the meeting,
(a) none of the registered holders of its securities is a depository, a nominee of a depository, or a person or company listed as an intermediary or the nominee of an intermediary on the intermediary master list of any depository; or
(b) all of the information contemplated in Part 2 of the request for beneficial ownership information is known to the reporting issuer.