Section 587 of The Companies Act No. 17 of 2015: Effect of impossibility etc of communicating or accepting offer
(1) For the purposes of this Part, shares are not included in a takeover offer ifthey are shares that the offeror acquired, or unconditionally contracted to acquire during the offer period, but were not acquired as a result of acceptances of the offer.
(2) For the purposes of this Part, shares that an associate of the offeror holdsor has contracted to acquire, whether at the date of the offer or subsequently, are not to be treated as shares to which the offer relates, even if the offer extends to those shares.
(3) In this section "contracted" means contracted unconditionally or contracted subject to specified conditions being satisfied.
(4) This section is subject to section 611(8) and (9).
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- Section 593 - Further provisions about Takeover Rules
(1) The Takeover Rules may—
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(b) make provision subject to exceptions or exemptions;
(c) contain incidental, supplemental, consequential or...
- Section 594 - Power of Authority to give rulings in takeover cases
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(2) To the extent and in the circumstances specified the Takeover Rule, and subject to any review...
- Section 595 - Rules may empower Authority to give directions
The Takeover Rules may confer power on the Authority to give any direction that appears to the Authority to be necessary in order—
(a) to restrain a person from acting or continuing to act in breach...
- Section 596 - Power of Authority to require documents and Information
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(a) to produce any documents that are specified or described in the notice; or
(b) to provide, in the form and manner specified in the notice,...
- Section 597 - Restrictions on disclosure of information about affairs of natural person or particular business
(1) This section applies to information (in whatever form) about—
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- Section 598 - Offence to disclose information in contravention of section 597
(1) A person who discloses information in contravention of section 597 commitsan offence.
(2) In a prosecution for an offence under subsection (1), it is a defence toestablish on a balance of...
- Section 599 - Power of Authority to impose sanctions for breaches of Takeover Rules
) The Authority may impose sanctions on a person who—
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- Section 600 - Failure to comply with the Takeover Rules relating to bid documentation
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- Section 601 - Enforcement of Takeover Rules by the Court
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- Section 602 - Authority not liable for damages in connection with the performance of its functions under this Part
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- Section 604 - Privilege against self-incrimination
(1) A statement made by a person in response to—
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(2) The first condition is that the company...
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(2) An opting-in resolution or an opting-out...
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(a) on...
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- Section 610 - Requirements as to notification of opting-in or opting out resolutions
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(2) If a company...
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- Section 612 - Further provision about notices given under section 611
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- Section 613 - Effect of notices under section 611
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- Section 614 - Further provision about consideration held on trust under section 613
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- Section 615 - Right of minority shareholder to be bought out by offeror
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(a) qualifies as small; and
(b) is not excluded from the regime.
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(2) A person who is found guilty of an offence...
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- Section 631 - Offences relating to company’s failure to preserve its records
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(2) An officer of a company who—
(a) fails to...
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(2) A company’s first financial year—
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(a) the current accounting reference period of the company...
- Section 635 - Duty of directors to prepare individual financial statement
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(2) Such a financial statement is referred to in this Part as the...
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(1) The directors of a company shall prepare the company’s individual afinancial statement in accordance with section 638.
(2) Subsection (1) is subject to section 645.
(3) If the directors of a...