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Practice Statement 2. Rule 21.3 – Site visits and meetings with management

Practice Statements

Under Rule 21.3 , the offeree board must, on request, equally and promptly provide an offeror or bona fide potential offeror with all information that it has provided, and that it provides in the seve…

Practice Statement 5. Rule 13.5 – Invoking conditions and pre-conditions

Practice Statements

Introduction This Practice Statement describes the way in which the Panel Executive normally interprets and applies Rule 13.5(a) of the Takeover Code in relation to when an offeror may invoke a condit…

Practice Statement 29. Rule 21.2 – Offer-related arrangements

Practice Statements

Introduction Rule 21.2(a) provides that, except with the consent of the Panel, neither the offeree company nor any person acting in concert with it may enter into an offer-related arrangement with eit…

Practice Statement 31. Formal sale processes, private sale processes, strategic reviews and public searches for potential offerors

Practice Statements

Introduction From time to time, the Executive is consulted in relation to the application of the Code where a company wishes to initiate: a formal sale process; a private sale process; a strategic rev…

Practice Statement 30. Rule 21.3 – Information required for the purpose of obtaining regulatory consents

Practice Statements

Introduction Under Rule 21.3 , the offeree board must, on request, equally and promptly provide an offeror or bona fide potential offeror (a “competing offeror”) with all information that it has provi…

Practice Statement 34. Rule 21.1 – Restriction on actions by the board of the offeree company

Practice Statements

Introduction Rule 21.1(a) provides that during the relevant period the board of the offeree company must not, except with the approval of shareholders in general meeting or the consent of the Panel, t…