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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Takeover Rules Module (TKO) [VER7/02-16]
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  Versions
(1 version)
 
Sep 26 2005 onwards

TKO 4.1.1

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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

Subject to TKO Rule 4.1.2, when:

(a) any PersonG acquires, whether by a series of transactions over a period of time or not, SharesG which carry 30% or more of the voting rights of a Reporting EntityG ;
(b) two or more PersonsG are acting in concert, and they collectively hold SharesG which carry less than 30% of the voting rights of a Reporting EntityG , and any one or more of them acquires SharesG and such acquisition has the effect of increasing to 30% or more their collective holding of SharesG carrying voting rights of the Reporting EntityG ;
(c) any PersonG holds not less than 30% of SharesG carrying voting rights of a Reporting EntityG and such PersonG acquires additional SharesG and such acquisition has the effect of increasing that person's holding of SharesG carrying voting rights by more than 3% from the lowest percentage holding of that PersonG in the 12 month period ending on and inclusive of the date of the relevant acquisition; or
(d) two or more PersonsG are acting in concert, and they collectively hold not less than 30% of SharesG carrying voting rights of a Reporting EntityG , and any one or more of them acquires additional SharesG and such acquisition has the effect of increasing their collective holding of SharesG carrying voting rights by more than 3% from the lowest percentage holding of such PersonsG in the 12 month period ending on and inclusive of the date of the relevant acquisition;

such PersonG must extend BidsG under these RulesG to the holders of any class of equity ShareG capital, whether voting or non-voting, and also to the holders of any class of voting non-equity ShareG capital of which such PersonG , or PersonsG acting in concert with him, hold SharesG .


Derived from DFSA RM23/2005 (Made 26th September 2005). [VER1/09-05]