MALAYSIAN CODE ON TAKE-OVERS AND MERGERS 1998

MALAYSIAN CODE ON TAKE-OVERS AND MERGERS 1998

MALAYSIAN CODE ON TAKE-OVERS AND MERGERS 1998
PU(B) 550/1998

1. Short title and commencement.

(1) This code may be cited as the Malaysian code On Take-Overs and Mergers 1998.

(2) This code shall come into operation on 1st January 1999

13 Offer document

14 Offeree board of directors' comments on the take-over offer

15 Independent advice circular

S.5 Principles

16 Profit forecasts and asset valuation

17 50% condition

18 Voluntary take-over offers shall not be subject to certain conditions

19 Fulfilment of conditions

20 Offer price

22 Duration of offer

23 Revisions of a take-over offer

24 Closing of take-over offers

25 Announcement of acceptances

26 Identity of offeror, persons acting in concert and ultimate offeror

27 Evidence of ability to implement the take-over offer

28 Favourable deals

29 Comparable take-over offers for more than one class of share capital

30 Treatment of convertible securities

31 Compulsory acquisition

32 Sales and disclosure of dealings by offeror etc. during offer period

33 Restrictions if take-over offer is withdrawn or lapses

34 Information to competing offeror

35 Frustration of offer by a board of directors of the offeree

36 Disclosure of dealings by offeree etc. during offer period

37 Prompt registration of transfers

38 False or misleading information etc.

39 Submission of information and compliance with directions

40 Extension of time

41 Contravention of requirements, directions, restrictions and conditions

42 Repeal and transitional

S.1 Short title and commencement

S.2 Interpretation

S.3 Service by post

S.4 Application of Parts of the code.

S.5 Principles.

S.6 Application of this Part

S.7 Management of the affairs of an offeree by an acquirer

S.8 Condition of a mandatory offer

S.9 Nature of the consideration for a mandatory offer

S.10 Resignation by directors

S.11 Partial offers

S.12 Announcements

S.21 Nature of the consideration

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