On 14 December 2016, the Takeover Panel Executive ("Panel") published Panel Statement 2016/9 which refers to a new set of checklists and supplementary forms that have been published by the Executive and can be downloaded from the Takeover Panel website. These documents must accompany any final form firm offer announcement, offer document, offeree board circular, scheme circular or Rule 15 offer/proposal required to be sent to the Panel before or at the time of publication in accordance with Rules 30.5(a) or 30.5(b) of the Takeover Code.
The checklists relate to the following documents:
- firm offer announcement;
- offer document/offeree board circular;
- scheme circular; and
- Rule 15 offer/proposal. The supplementary forms relate to the following:
- intention statements schedule;
- profit forecast;
- quantified financial benefits statement;
- asset valuation; and
- partial offer.
The checklists and supplementary forms should be used with immediate effect and can be accessed here: http://www.thetakeoverpanel.org.uk/checklists
Guidance on completing the documents can be accessed here:
http://www.thetakeoverpanel.org.uk/checklists/how-to-complete
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.