Bid Period

means the period from the time when an announcement is made of a proposed or possible Bid (with or without terms) until the first closing date or, if this is later, the date when the Bid becomes or is declared unconditional as to acceptances or lapses. An announcement that a holding, or aggregate holdings, of Shares carrying 30% or more of the voting rights of a Reporting Entity is for sale or that the Governing Body of a Reporting Entity is seeking potential Bidders will be treated as the announcement of a possible Bid.