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  • TKO 12.1 Delay of twelve months

    • TKO 12.1.1

      Where a BidG has been announced or posted but has not become or been declared unconditional and has been withdrawn or has lapsed, neither the BidderG , nor any PersonG who acted in concert with the BidderG in the course of the original BidG , nor any PersonG who is subsequently acting in concert with any of them, may within 12 months from the date on which such BidG is withdrawn or lapses either:

      (a) make a BidG for the relevant SharesG of the TargetG (including a partial BidG which could result in the BidderG holding SharesG carrying 30% or more of the voting rights of the TargetG ); or
      (b) acquire any SharesG of the TargetG if the BidderG or any such PersonG would thereby become obliged under TKO Chapter 4 to make a BidG ;
      (c) acquire any SharesG of the TargetG or any rights over such SharesG if the SharesG and rights over SharesG held by any such PersonG , together with PersonsG acting in concert with him, would in aggregate carry 30% or more of the voting rights of the TargetG .

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

    • TKO 12.1.2

      The restrictions in TKO Rule 12.1.1 also apply following a partial BidG which could result in a holding of not less than the 30% and not more than 50% of the voting rights of the TargetG whether or not the BidG has become or been declared unconditional. When such a BidG has become or been declared unconditional, the period of 12 months runs from that date.


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