CodeWord Issue 15 - November 2005

In this issue

Takeover Documents - Compliance with the Code

The Panel’s executive routinely checks takeover notices, takeover offer documents and target company statements for compliance with the Code.

From so…

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Practice Note - exemptions from clause 26 of schedule 2 of the Code

Rule 46 of the Code requires a target company, on receipt of a takeover offer, to prepare a target company statement for distribution to its sharehold…

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Oyster Bay - Panel decision on omission of material information in target company statement upheld by High Court

The protracted takeover process for control of Oyster Bay Marlborough Vineyards Limited began in July 2005 when Delegat’s Wine Estate Limited (Delegat…

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Update on Exemptions - Conversion of equity securities acquired under a takeover offer

The Code requires that a full takeover offer include an offer for all classes of equity securities in the target company. In some cases a bidder who a…

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Update on Associates - Calgary Petroleum Limited

The issue of association was considered in the section 32 meeting concerning Dorchester Pacific Limited which was the subject of a detailed article in…

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