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  • TKO 3.2 TKO 3.2 Acquisitions during a bid period

    • TKO 3.2.1

      If, after the commencement of the Bid Period and before the Bid closes for acceptance, a Bidder or any Person acting in concert with it acquires relevant Shares in the Target at above the Bid price (being the then current Bid price), the Bidder must revise its Bid to not less than the highest price paid for the Shares so acquired.


      Derived from DFSA RM23/2005 (Made 26th September 2005). [VER1/09-05]

    • TKO 3.2.2 TKO 3.2.2

      Immediately after the acquisition, the Bidder must make an announcement that a revised Bid will be made in accordance with TKO Rule 3.2.1.


      Derived from DFSA RM23/2005 (Made 26th September 2005). [VER1/09-05]

      • TKO 3.2.2 Guidance

        In relation to TKO Rule 3.2.2, see also TKO Section 11.4 of these Rules.


        Derived from DFSA RM23/2005 (Made 26th September 2005). [VER1/09-05]

    • TKO 3.2.3

      The announcement must also state the number of Shares acquired and the price paid.


      Derived from DFSA RM23/2005 (Made 26th September 2005). [VER1/09-05]