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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Takeover Rules Module (TKO) [VER7/02-16]
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Financial Markets Tribunal
Archive

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  Versions
(1 version)
 
Sep 26 2005 onwards

TKO 7.4.1



Whole Section PDF

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.

During the course of a BidG , or even before the date of the BidG if the Governing BodyG of the TargetG has reason to believe that a bona fide BidG might be imminent, the Governing BodyG must not, except in pursuance of a contract entered into earlier, without the approval of the shareholders to the relevant proposal given in general meeting:

(a) issue any authorised but unissued SharesG ;
(b) issue or grant options in respect of any unissued SharesG ;
(c) create or issue, or permit the creation or issue of, any SecuritiesG carrying rights of conversion into or subscription for SharesG ;
(d) sell, dispose of or acquire, or agree to sell, dispose of or acquire, assets of a material amount;
(e) enter into contracts otherwise than in the ordinary course of business; or
(f) pay any dividend which is abnormal as to timing and amount.

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