Delay of 6 months before acquisitions above the offer value
Except with the consent of the Panel, if a person, together with any person acting in concert with that person, holds shares carrying more than 50% of the voting rights of a company, neither that person nor any person acting in concert with that person may, within 6 months of the closure of any previous offer made by that person to the shareholders of that company which became or was declared unconditional, make a second offer to any shareholder in that company, or acquire any interest in shares in that company, on more favourable terms than those made available under the previous offer (see also Rule 6.2(a)). For this purpose the value of a securities exchange offer shall be calculated as at the date the offer closed. In addition, special deals with favourable conditions attached may not be entered into during this 6 months period (see also Rule 16.1).
NOTE ON RULE 35.3
Determination of price
See the Note on Rule 35.4.