Entire Section
TKO 12.1 TKO 12.1 Delay of twelve months
TKO 12.1.1
Where a
Bid has been announced or posted but has not become or been declared unconditional and has been withdrawn or has lapsed, neither theBidder , nor anyPerson who acted in concert with theBidder in the course of the originalBid , nor anyPerson who is subsequently acting in concert with any of them, may within 12 months from the date on which suchBid is withdrawn or lapses either:(a) make aBid for the relevantShares of theTarget (including a partialBid which could result in theBidder holdingShares carrying 30% or more of the voting rights of theTarget ); or(b) acquire anyShares of theTarget if theBidder or any suchPerson would thereby become obliged under TKO Chapter 4 to make aBid ;(c) acquire anyShares of theTarget or any rights over suchShares if theShares and rights overShares held by any suchPerson , together withPersons acting in concert with him, would in aggregate carry 30% or more of the voting rights of theTarget .
Derived from DFSA RM23/2005 (Made 26th September 2005). [VER1/09-05]TKO 12.1.2
The restrictions in TKO Rule 12.1.1 also apply following a partial
Bid which could result in a holding of not less than the 30% and not more than 50% of the voting rights of theTarget whether or not theBid has become or been declared unconditional. When such aBid has become or been declared unconditional, the period of 12 months runs from that date.
Derived from DFSA RM23/2005 (Made 26th September 2005). [VER1/09-05]