Changes to the Takeover Code

The Takeover Code applies to all offers for companies registered in the UK, the Channel Islands or the Isle of Man whose securities are traded on a regulated market in the UK or on any stock exchange in the Channel Islands or the Isle of Man. 

Consequently, for example, all companies registered in the UK, the Channel Islands or the Isle of Man whose securities are listed on the Official List of the UK Listing Authority are subject to the code. However, until 30 September 2013, a residency test applied to companies whose securities were admitted to trading on a multilateral facility (e.g. AIM) in order for the code to apply to them…

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