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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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Sep 26 2005 onwards

TKO 4.3.1 Guidance



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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.

1. If the BidderG considers that the highest price should not apply in a particular case, the BidderG should consult the DFSAG . The DFSAG may waive or modify the application of TKO Rule 4.3.1 if it is satisfied that circumstances are appropriate to provide a dispensation from this RuleG . See TKO Chapter 16 of these RulesG . Factors that the DFSAG may take into account include the size or timing of the relevant acquisitions, the attitude of the Governing BoardG of the TargetG , whether SharesG had been purchased at high prices from DirectorsG or other PersonsG closely connected with the BidderG or TargetG , and the number of SharesG purchased in the preceding six months.
2. The DFSAG should be consulted where there is more than one class of SharesG involved.
3. Also note related provisions, TKO Rule 3.1.1 (acquisitions before a Bid PeriodG ) and TKO Rule 5.2.1 (requirement for a BidG in cash).

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