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The Takeover Code
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  • Acceleration statement
  • Acting in concert
  • Business day
  • Cash acquisitions
  • Cash offeror
  • Close relatives
  • Connected adviser
  • Connected fund manager and connected principal trader
  • Control
  • Dates, periods of time and London time
  • Day 14
  • Day 21
  • Day 39
  • Day 46
  • Day 53
  • Day 60
  • Dealings
  • Derivative
  • Directors
  • Electronic form
  • Employee representative
  • Exempt fund manager
  • Exempt principal trader
  • FCA Handbook
  • Fund manager
  • Hard copy form
  • Interests in securities
  • Irrevocable commitments and letters of intent
  • Material official authorisation or regulatory clearance
  • Offer
  • Offeree company
  • Offeror
  • Offer period
  • Official List
  • Ordinary course profit forecast
  • Parties to the offer
  • Pension scheme
  • Person with information rights
  • Post-offer intention statement
  • Post-offer undertaking
  • Principal trader
  • Profit estimate
  • Profit forecast
  • Quantified financial benefits statement
  • Recognised intermediary
  • Recognised investment exchange
  • Regulatory information service or RIS
  • Relevant securities
  • Reverse takeover
  • Scheme of arrangement or scheme
  • Securities exchange offer
  • Securities exchange offeror
  • Shares or securities
  • Treasury shares
  • UK multilateral trading facility or UK MTF
  • UK regulated market
  • Unconditional date
  • Voting rights
  • Website notification
  • Note on Definitions
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1
3 February 2025

Updated
11 December 2023

Timeline and revision history

You are viewing the Code as at 03/02/2025
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Alternative versions

  1. 11/12/2023
  2. 03/02/2025

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Shares or securities

  1. Except as set out below or as the context otherwise requires, references to shares, including when used in other expressions such as shareholders (but excluding equity share capital), include securities, and vice versa.

  2. In section 3(a) of the Introduction, in the first paragraph of section 3(b) of the Introduction and in former section 3(a) of the Introduction (as defined in the Transitional Appendix), the shares/securities referred to are only those shares/securities comprised in the company’s equity share capital (whether voting or non-voting) and other transferable securities carrying voting rights.

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