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Companies Act, 2008 (Act No. 71 of 2008)


Companies Regulations, 2011

Chapter 5 : Fundamental Transactions and Takeover Regulations

Part D : Duties and Conduct of Offeree and Directors

115. Waivers


With respect to a waiver that is obtained in terms of regulation 86, for a period of six months immediately following the waiver—

(a) the acquirer;
(b) the subscriber or underwriter; and
(c) any person who is acting in concert with a person contemplated in paragraphs (a) or (b),

must not make an offer to any holder of securities of the offeree regulated company, or acquire any interest in any such securities, on more favourable terms than those acquired or subscribed for in terms of the transaction in question.