| Commentary

190 Disclosure of information

| Commentary

190 Disclosure of information

During the offer period, the City Code on Takeovers and Mergers also lays down various requirements relating to the disclosure of information on dealings. Dealings in relevant securities of any party to the offer by the offeror, the target company or by any concert party must generally be disclosed to a Regulatory Information Service (RIS)1. Dealings by a person who is interested (directly or indirectly) in 1% or more of any class of relevant securities of any party to the offer before or after the transaction must be disclosed in the same way2

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