Changes to the Takeover Code and the application of the residency test
The Code Committee of the Takeover Panel has published its response statement (RS 2012/3) to its consultation Companies subject to the Takeover Code (PCP 2012/3).
The key change is that the residency test will be removed for companies that have their registered office in the UK, the Channel Islands or the Isle of Man and that have any of their securities admitted to trading on a multilateral trading facility (MTF) in the UK.
This means that AIM companies with a registered office in the UK, the Channel Islands or the Isle of Man, currently not falling within the remit of the code as their place of central management and control is not in those jurisdictions, will become subject to the code…
If you are registered and logged in to the site, click on the link below to read the rest of the Stephenson Harwood briefing. If not, please register or sign in with your details below.
Ali - please set live and then backdate to May 2013
News from Stephenson Harwood
News from The Lawyer
Briefings from Stephenson Harwood
This briefing provides an comparison of the key provisions of the UK Data Protection Act 1998 (DPA) and the Singapore Personal Data Protection Act 2012 (PDPA).
In a recent case, the judge concluded that something had ‘gone wrong’ with the drafting and added the words ‘or similar thereto’ to the end of the covenant.
Analysis from The Lawyer
‘Exotic’ investors and opportunities for legal work beyond M&A feature in The Lawyer’s high-level roundtable debate on south-east Europe