Securities and Futures Act 2001 · 2020 Revised Edition · Part 7 · Disclosure of Interests
136. Duty of substantial shareholder to notify corporation of change in interests
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Where there is a change in the percentage level of the interest or interests of a substantial shareholder in a corporation in voting shares in the corporation, the substantial shareholder must give written notice to the corporation within 2 business days after the substantial shareholder becomes aware of the change.
corporation
“corporation” has the meaning given by section 4(1) of the Companies Act 1967;
A notice under subsection (1) must be in such form and must contain such information as the Authority may prescribe.
In subsection (1), “percentage level”, in relation to a substantial shareholder in a corporation, means the percentage figure ascertained by expressing the total votes attached to all the voting shares in which the substantial shareholder has an interest or interests immediately before or (as the case may be) immediately after the relevant time, as a percentage of the total votes attached to —
all the voting shares (excluding treasury shares) in the corporation; or
where the share capital of the corporation is divided into 2 or more classes of shares, all the voting shares (excluding treasury shares) in the class concerned,and, if it is not a whole number, rounding that figure down to the next whole number.