• Conditions and Consents

    • TMA-3.1.9

      Except with the consent of CBB:

      (a) An offeror shall not include any other condition in a mandatory offer other than the condition that the offer is subject to the offeror having received acceptances which would result in the offeror and all persons acting in concert with the offeror holding in aggregate more than 50% of the voting rights; and
      (b) No acquisition of any voting rights in shares which would give rise to a requirement for a mandatory offer may be made, if it is dependent on the passing of a resolution at any meeting of the shareholders of the offeror or upon any other conditions, consents or arrangements.
      Amended: October 2019
      Amended: April 2013

    • TMA-3.1.9A

      An offer made under TMA-3.1 should normally be unconditional when the offeror and persons acting in concert with it hold more than 50% of the voting rights before the offer.

      Added: October 2019