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  • Part 7: Part 7: Takeovers

    • 33. Purpose of this Part

      The purpose of this Part, and of Takeover Rules made for the purpose of this Part, is to:

      (a) ensure that a Takeover takes place in an efficient, competitive, fair and informed market;
      (b) ensure that shareholders are treated fairly and shareholders of the same class are treated the same; and
      (c) provide an orderly framework within which a Takeover is conducted.

    • 34. Takeover Rules

      The DFSA shall make Rules known as the Takeover Rules prescribing the procedures for and obligations of persons in respect of a Takeover of a Reporting Entity.

    • 35. Takeover Principles

      (1) The DFSA shall make Takeover Rules prescribing a set of Takeover principles relating to, but not limited to:
      (a) treatment of shareholders and of classes of shareholders in a Takeover;
      (b) adequacy of time and of information provided to shareholders to enable proper consideration of a Takeover bid;
      (c) avoidance of the creation of false markets; and
      (d) avoidance of oppression of minorities.
      (2) A person who is involved in a Takeover of a Reporting Entity shall comply with and observe the spirit and the wording of the Takeover principles.