CodeWord Issue 29 - September 2011
In this issue
Marlborough Lines Limited and Horizon Energy Distribution Limited
IntroductionThe unsuccessful partial offer for Horizon Energy Distribution Limited (Horizon) made by Marlborough Lines Limited (Marlborough) in Septem…
Read MoreNew Class Exemption – Fair Scaling of Acceptances of Partial Offers
The Panel has granted a new class exemption in relation to partial takeover offers.[1] The exemption came into effect on 12 August 2011.
The exemptio…
Target Company Statements – Directors’ Disclosure Obligations – Specialist Advice
The Directors of a target company are responsible for preparing the target company statement (TCS) in response to a takeover offer.[1] The TCS must co…
Read MoreOfferor’s Intentions for the Business Activities of the Target Company – Panel’s Expectations for Disclosures in Offer Document
A takeover offeror’s offer document must contain all of the information specified in Schedule 1 of the Code, stated as at the date of the offer.[1] Cl…
Read MoreLaw Changes Under Regulatory Reform Bill 2010 Move Forward
In June 2008, the Panel recommended to the Minister of Commerce that minor amendments be made to the Takeovers Act. These amendments will be made when…
Read MoreAppointments to the Panel and Executive Team
The Panel is pleased to announce four new appointments to the Panel and a number of changes within the Panel executive team.
The PanelFour new member…
