Additionally, Note 3 on Dispensations from Rule 9 Takeover Code has been amended to remove certain limitations on the Panel’s flexibility to waive the mandatory offer requirement under Rule 9 in the case of a rescue operation that is the only manner in which the company might be saved. Rec...
for example, trigger the requirement to make a mandatory offer under Rule 9 of the Code if the aggregated interests of the concert party go through 30% as a result of the purchase.
2.2.4.4 Waiver NIMD may waive each of these conditions precedent. In accordance with Article 33 of the Takeover Decree, NIMD will announce whether or not the conditions are satisfied and, as the case may be, its decision to waive any of the conditions which would not be satisfied, upon ...