| Commentary

187 Introduction

| Commentary

(b) Share dealings during offer period

187 Introduction

The offer period will begin with the announcement of a possible or proposed offer. The effect on share dealings of this announcement depends, to a certain extent, on whether it is a Rule 2.7 announcement. Some provisions apply as soon as there is an announcement of whatever type whilst others apply only where there is a Rule 2.7 announcement. Provisions cover, inter alia, acquisition of the target’s shares (which should include the exercise of options over the target company’s shares), disposal of shares, dealing of any kind and the disclosure of information

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