Takeover Rules Module (TKO) [VER6/06-14] | Rulebook

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Dubai Financial Services Authority (DFSA)

Dubai Financial Services Authority (DFSA)

Versions

Jul 05 2012 - Aug 20 2014
Aug 21 2014 - Jan 31 2016
Feb 01 2016 - Mar 31 2020
Apr 01 2020

‹ REP A1.3 Guidance [Deleted]

TKO 1 Introduction and the Takeover Principles ›

Takeover Rules Module (TKO) [VER6/06-14]

TKO 1 Introduction and the Takeover Principles
- TKO 1.1 The takeover rules
- TKO 1.2 Application of these rules
- TKO 1.3 Regulatory proceedings in the FMT
- TKO 1.4 Interpretation and definitions
- TKO 1.5 The takeover principles
TKO 2 The Approach, Announcements and Advice
- TKO 2.1 The approach
- TKO 2.2 Secrecy before announcements
- TKO 2.3 Announcement of a possible bid
- TKO 2.4 Announcement of a firm intention to make a bid
- TKO 2.5 Announcements in other circumstances
- TKO 2.6 Mode of publication of an announcement
- TKO 2.7 Governing bodies to obtain independent advice
TKO 3 Restricted Dealings Before and During an Offer Period
- TKO 3.1 Acquisitions before a bid period
- TKO 3.2 Acquisitions during a bid period
- TKO 3.3 Restrictions on the sale of shares during a bid period
- TKO 3.4 Disclosure of dealings during a bid period
TKO 4 Mandatory Bids
- TKO 4.1 Requirement for a mandatory bid
- TKO 4.2 Conditions and consents
- TKO 4.3 Consideration to be offered
- TKO 4.4 Obligations of directors selling shares
- TKO 4.5 Restrictions on exercise of control by a bidder
TKO 5 The Terms of a Voluntary Bid
- TKO 5.1 The acceptance condition
- TKO 5.2 Requirement for a bid in cash
- TKO 5.3 Subjective conditions
TKO 6 Provisions Applicable to All Bids
- TKO 6.1 Where there is more than one class of shares
- TKO 6.2 Appropriate bid for options, convertibles and rights
- TKO 6.3 Special deals with favourable conditions
- TKO 6.4 Announcement of acceptance levels
- TKO 6.5 Use of proxies and authorities in relation to acceptances
TKO 7 Conduct During a Bid
- TKO 7.1 Standards and responsibilities for care and accuracy
- TKO 7.2 Distribution of documents and announcements
- TKO 7.3 Equality of information
- TKO 7.4 Restrictions on frustrating action
TKO 8 Documents Issued by Governing Bodies
- TKO 8.1 The general obligation as to information
- TKO 8.2 Bid document and target circular disclosures
- TKO 8.3 Documents subsequently sent to shareholders
- TKO 8.4 Availability of documents for inspection
TKO 9 Profit Forecasts
- TKO 9.1 References to profit forecasts
- TKO 9.2 Standards of care
- TKO 9.3 Assumptions
- TKO 9.4 Reports in connection with profit forecasts
- TKO 9.5 Statements to be treated as profit forecasts
- TKO 9.6 Miscellaneous rules relating to forecasts
TKO 10 Asset Valuations
- TKO 10.1 Valuations in connection with a bid
- TKO 10.2 Opinion and consent letters
TKO 11 Bid Timing and Revision
- TKO 11.1 Filing and posting the bid document and target circular
- TKO 11.2 Closing dates and extensions
- TKO 11.3 Settlement of consideration
- TKO 11.4 Revision of bids
- TKO 11.5 Alternative bids
- TKO 11.6 Withdrawal of acceptances
TKO 12 Restrictions Following Bids
- TKO 12.1 Delay of twelve months
TKO 13 Partial Bids
- TKO 13.1 Application of this chapter
- TKO 13.2 DFSA consent required
- TKO 13.3 Restrictions and requirements
TKO 14 Redemption or Acquisition of Own Capital
- TKO 14.1 Redemption or acquisition of own shares
- TKO 14.2 Other methods of bid
TKO 15 [Deleted]
- TKO 15.1 [Deleted]
- TKO 15.2 [Deleted]
TKO 16 Waivers or Modifications
- TKO 16.1 Applications to waive or modify the Markets Law 2012 and rules
TKO 17 Enforcement
- TKO 17.1 Applicable provisions
TKO App1 Contents of Bid Documents
- TKO A1.1 Disclosure as to the bidder and its intentions
- TKO A1.2 Financial Disclosure in Securities Exchange Bid
- TKO A1.3 Disclosure of shareholdings and dealings
- TKO A1.4 Other disclosures
TKO App2 Contents of Target Circulars
- TKO A2.1 Disclosure in initial target circular
- TKO A2.2 Financial disclosure
TKO App3 Contents of Subsequent Documents
- TKO A3.1 Obligation to update material information
TKO App4 [Deleted]

‹ REP A1.3 Guidance [Deleted]

TKO 1 Introduction and the Takeover Principles ›

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