During an offer period, the offeror and persons acting in concert with it shall not sell any securities in the offeree company except with the prior consent of the Panel and following 24 hours public notice as prescribed in Rule 7.1(a) that such sales might be made. The Panel will not give consent for sales where a mandatory offer under Rule 8 is being made. Sales below the value of the offer will not be permitted. After there has been an announcement that sales may be made, neither the offeror nor persons acting in concert with it shall make further purchases.