Singapore legislation

Regulation 5

of Securities and Futures (Disclosure of Interests) Regulations 2012

Regulation 5

Exemption from Part VII of Act for offeror of take-over offer, etc.

Part VII of the Act shall not apply to ––

(a)

any person who has announced a take-over offer for a listed issuer (referred to in this regulation as the offeror); and

(b)

any person who has a deemed interest in the securities in the listed issuer held by the offeror,in respect of any change in the offeror’s interest in the securities in the listed issuer after the announcement of the take-over offer and before the offer lapses, closes or is withdrawn, subject to the following conditions:

(i)

the take-over offer is governed by the Take-over Code; and

(ii)

such change in the offeror’s interest in the securities in the listed issuer results from —

(A)

an acceptance received pursuant to the take-over offer that is in compliance with the provisions of the Take-over Code; or

(B)

any other acquisition or disposal of securities in the listed issuer made by him provided that the relevant provisions in the Take-over Code on disclosure of such acquisition or disposal, as the case may be, are complied with.

Read in full context — Securities and Futures (Disclosure of Interests) Regulations 2012 →