Entire Section

  • TKO 11.2.8 TKO 11.2.8

    If the Governing Body of the Target proposes to announce any material new information after the 46th day following the posting of the Bid Document, it must consult the DFSA in advance of making any such announcement.

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

    • TKO 11.2.8 Guidance

      1. The DFSA should be consulted in good time. This Rule does not displace the obligation upon a reporting entity to make timely disclosure of material information.
      2. Where a matter which might give rise to such an announcement being made after the 46th day is known to the Target, every effort should be made to bring forward the date of the announcement.
      3. If an announcement of the kind referred to in this Rule is made after the 46th day, the DFSA will normally be prepared to grant an extension (by waiver or modification as necessary) to "Day 53" (see TKO rule 11.4.1) and/or "Day 67" (see TKO rule 11.2.5).
      4. For the purpose of TKO rule 11.2.8, material new information would include trading results, profit or dividend forecasts, asset valuations and proposals for dividend payments or for any material acquisition or disposal.

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