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  • Publication of an Announcement about an Offer or Possible Offer

    • TMA-2.3.8

      When an offer or possible offer is announced, the announcement must be in accordance with Appendix B in Part B of the CBB Rulebook Volume 6 and be sent to the licensed exchange and published in two local daily newspapers in Bahrain, one in Arabic, or Arabic and the other in English.

      Amended: October 2019

    • TMA-2.3.9

      [This Paragraph was deleted in October 2019].

      Deleted: October 2019

    • TMA-2.3.10

      An offeror or potential offeror must make an announcement under the following conditions:

      (a) Before an approach has been made to the offeree company, the offeree company is in the subject of rumour or speculation about a possible offer.
      (b) There is unusual movement in the company's share price or in the volume of share turnover, and there are reasonable grounds for concluding that it is the actions of the potential offeror or persons acting in concert with it through inadequate security, which have led to the situation;
      (c) When negotiations or discussions are about to be extended to include more than a very restricted number of persons; outside those who need to know in the companies concerned and their immediate advisors; or
      (d) Immediately upon acquisition of voting rights which gives rise to an obligation to make a mandatory offer. The announcement that an obligation has arisen must not be delayed due to information being obtained, additional information can be the subject of a later supplementary announcement.
      Amended: October 2019