Acts Online
GT Shield

Companies Act, 1973 (Act No. 61 of 1973)

The Securities Regulation Code on Takeovers and Mergers

The Code

Section H. Provisions Applicable to all Offers

Rule 11. Where there is more than one class of securities

 

 

11.1) Comparable offers

 

Where a company has more than one class of security as its capital, a comparable offer must be made for each class whether such capital carries voting rights or not; the Panel shall be consulted in advance. An offer for non-voting securities shall not be made conditional on any particular level of acceptances in respect of that class unless the offer for the voting securities is also conditional on the success of the offer for the non-voting securities. Classes of non-equity securities need not be the subject of an offer, except in the circumstances referred to in Rule 8.1.

 

11.2) Separate offers for each class

 

Where an offer is made for more than one class of securities separate offers shall be made for each class.

 

 


500 - Internal Server Error
500 - Internal Server Error

We're sorry, but something went wrong displaying that page. While we work on fixing this, you can return to the home page.

Alternatively, email [email protected] for assistance.