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  • TKO 6.4 TKO 6.4 Announcement of acceptance levels

    • TKO 6.4.1

      By 9:00am (Dubai time) at the latest on the business day following the day on which a Bid is due to expire, or becomes or is declared unconditional as to acceptances, or is extended, the Bidder must make an appropriate announcement including an announcement made in the same manner as a market disclosure required under Rule 4.7.1 of the Markets Rules.


      Derived from DFSA RM23/2005 (Made 26th September 2005). [VER1/09-05]
      [Amended] DFSA RM87/2012 (Made 14th June 2012). [VER5/06-12]

    • TKO 6.4.2 TKO 6.4.2

      The announcement must state the total numbers of Shares and rights over Shares (as nearly as practicable);

      (a) for which acceptances of the Bid have been received;
      (b) held before the Bid Period; and
      (c) acquired or agreed to be acquired during the Bid Period;

      and must specify the percentages of the relevant classes of Shares represented by these numbers.


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

      • TKO 6.4.2 Guidance

        1. See also TKO Rule 11.2.2.
        2. If, during a Bid, any statements are made by a Bidder or its advisers about the level of acceptances of the Bid or the number or percentages of shareholders who have accepted the Bid, an immediate announcement must be made in conformity with these Rules.
        3. If a Bidder fails within the time limit to comply with the requirements in this Section, the DFSA or Authorised Market Institution (as appropriate) may consider a temporary suspension of listing of the Target's Shares and, where appropriate, the Bidder's Shares until the relevant information is given.

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