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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
Takeover Rules Module (TKO) [VER7/02-16]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Financial Markets Tribunal

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  • TKO 6.4.2

    The announcement must state the total numbers of SharesG and rights over SharesG (as nearly as practicable);

    (a) for which acceptances of the BidG have been received;
    (b) held before the Bid PeriodG ; and
    (c) acquired or agreed to be acquired during the Bid PeriodG ;

    and must specify the percentages of the relevant classes of SharesG represented by these numbers.

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

    • TKO 6.4.2 Guidance

      1. See also TKO Rule 11.2.2.
      2. If, during a BidG , any statements are made by a BidderG or its advisers about the level of acceptances of the BidG or the number or percentages of shareholders who have accepted the BidG , an immediate announcement must be made in conformity with these RulesG .
      3. If a BidderG fails within the time limit to comply with the requirements in this Section, the DFSAG or Authorised Market InstitutionG (as appropriate) may consider a temporary suspension of listing of the Target'sG SharesG and, where appropriate, the Bidder'sG SharesG until the relevant information is given.

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