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

The Securities Regulation Code on Takeovers and Mergers

The Code

Section J. Documents from the Offeror and the Offeree Board

Rule 24. Documents subsequently sent to Holders of Relevant Securities

 

 

24.1) Material Changes

 

Documents subsequently sent to holders of relevant securities of the offeree company by either party shall contain details of any material changes in information previously published by or on behalf of the relevant party during the offer period; if there have been no such changes, this shall be stated. In particular, the following matters shall be updated:

a) Holdings of relevant securities and dealings (Rules 21.3 and 22.3);
b) directors' emoluments (Rule 21.4);
c) special arrangements (Rule 21.5);
d) ultimate owner of securities acquired under the offer (Rule 21.8);
e) changes to directors' service contracts (Rule 22.4); and
f) arrangements, undertakings and agreements in relation to offers (Rules 21.11 and 22.5).