On 13 April 2017, the Takeover panel and the Committee published Instrument 2017/1 which makes minor and technical changes to the Introduction of the Takeover Code, and the Code Committee published Instrument 2017/2 which makes various minor amendments to the Takeover Code.
Amongst other things, Instrument 2017/2 introduces the following change:
- Sections 3(a)(i) and (ii) of the Introduction have been amended to clarify that, where a company's securities are or have been admitted to trading on a multilateral trading facility in the UK, the Takeover Code will only apply if the company has approved trading, or requested admission to trading, of its securities on the relevant multilateral trading facility.
The full text of Instrument 2017/1 is available at:
http://www.thetakeoverpanel.org.uk/wp-content/uploads/2017/04/2017.1.SECTION8inst.pdf
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
