Entire Section

  • TKO 6.1 TKO 6.1 Where there is more than one class of shares

    • TKO 6.1.1 TKO 6.1.1

      Where a Target has more than one class of Shares as its capital, the Bidder must:

      (a) make a fair and appropriate Bid, having regard to current circumstances, for each class whether such capital carries voting rights or not;
      (b) consult the DFSA in advance of such a Bid being made; and
      (c) ensure that a Bid for non-voting Shares is not conditional on any particular level of acceptances in respect of that class unless the Bid for the voting Shares is also conditional on the success of the Bid for the non-voting Shares.

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

      • TKO 6.1.1 Guidance

        A fair and appropriate Bid need not necessarily be an identical Bid.


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

    • TKO 6.1.2

      Classes of non-equity Share capital need not be the subject of a Bid, except in the circumstances referred to in TKO Rule 4.1.1.


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

    • TKO 6.1.3

      Where a Bid is made for more than one class of Shares, separate Bids must be made for each class.


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