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TMA-3.3.11

Except with the consent of the CBB, an offer must not be announced subject to a pre-condition unless the pre-condition involves:

(a) A material official authorisation; or
(b) A regulatory clearance; and
(c) The offer is publicly recommended by the board of the offeree company; or
(d) The CBB is satisfied that it is likely to prove impossible to obtain the authorisation or clearance within the timetable.

The CBB must be consulted in advance if a person proposes to include a pre-condition to which the posting of the offer will be subject.

Amended: October 2019
Amended: April 2013