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

Companies Regulations, 2011

Chapter 5 : Fundamental Transactions and Takeover Regulations

Part B : General Rules Respecting Negotiations and Offers

98. Dealings disclosure and announcement

 

 

See section 119(1)(o)(v)

 

(1) In this regulation, 'allowable dealings' does not include any dealing that is in contravention of s 127 (2) or any other provision of the Act.

 

(2) During an offer period, allowable dealings in securities of the offeror or the offeree regulated company by an offeror or the offeree regulated company, or by any person in concert with either the offeror or the offeree regulated company, must be disclosed to the Panel on form TRP 98 when effected—
(a) by a person with a beneficial interest for that person's own account, or for another person in terms of any form of mandate; or,
(b) on an agency basis.

 

(3) A person who is required to make a disclosure as contemplated in sub-regulation (2) must make an announcement at the same time, which announcement must set out the details disclosed in Form TRP 98 as filed.