CodeWord Issue 47 - October 2018

Published 26 October 2018

In this issue

Technical amendments to the Takeovers Code

From time to time, the Panel makes recommendations for amendments to the Takeovers Code. Following consultation with the market in late 2016, the Panel recommended a number of technical amendments to...

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Full terms of securities to be included with Class Notices

Rule 42A requires target companies to provide to an offeror a class notice within two days of receiving a takeover notice. Rules 42A(3) and (4) provide that:

(3) The class notice must contain...

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The Panel’s interpretation of “share parcels”

The Panel recently considered how the term “share parcels” (used in the definition of Code company) should be interpreted. Given this is a threshold issue relating to whether a company is a Code...

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Disclosure of information to the Panel

The Panel depends on market participants providing the Panel with full and fair disclosure of all material information. This is necessary to allow the Panel to operate efficiently and effectively. In...

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New website

Visitors to our site would have noticed our new website redesign which was launched in October 2018. When designing the new website, our focus has been to improve its overall searchability...

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CodeWord is our regular newsletter that keeps market practitioners updated on the Panel’s guidance and determinations, as well as amendments to takeovers law. It also gives an overview of consultations with the market and any Panel news.

Please note that the Panel does not update past issues of CodeWord. As such, the material may become out of date when amendments are made to the Code. Please refer to the Panel's guidance notes for up-to-date regulatory guidance.

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Past Issues

CodeWord Issue 47 - 26 October 2018
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CodeWord Issue 46 - 1 March 2018
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CodeWord Issue 45 - 1 December 2017
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CodeWord Issue 44 - 1 June 2017
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CodeWord Issue 43 - 1 December 2016
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CodeWord Issue 42 - 1 October 2016
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CodeWord Issue 41 - 1 December 2015
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CodeWord Issue 40 - 1 September 2015
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CodeWord Issue 39 - 1 April 2015
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CodeWord Issue 38 - 1 March 2015
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