Employee representatives’ opinion and pension scheme trustees’ opinion
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Where the board of the offeree company receives in good time before publication of its circular on the offer:
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an opinion from employee representatives on the effects of the offer on employment; or
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an opinion from the trustees of any of its pension scheme(s) on the effects of the offer on the pension scheme(s),
any such opinion must be appended to the circular.
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Where any such opinion is received but not in good time before publication of the offeree board circular, the offeree company must promptly publish the opinion on a website and announce via a RIS that it has been so published, provided that it is received no later than 14 days after the date on which the offer becomes or is declared unconditional.
NOTES ON RULE 25.9
Offeree company’s responsibility for costs
The offeree company must pay for:
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the costs of the publication of any opinion received from employee representatives’ and for the costs reasonably incurred by the employee representatives in obtaining advice required for the verification of the information contained in that opinion in order to comply with the standards of Rule 19.1; and
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the costs of the publication of any opinion received from trustees of its pension scheme(s).
(See also Rule 32.6(c).)
Notification of the rights of employee representatives and pension scheme trustees under Rule 25.9
See Rule 2.11(d).