| Commentary

208 Acceptances

| Commentary

208 Acceptances

The original offer document will specify the procedure for accepting the offer. Where shareholders hold their shares in certificated form, they accept the offer by completing the form of acceptance and returning this to the receiving agent, together with their share certificates. Where shareholders hold their shares in uncertificated form (that is, in CREST), the offer is accepted by means of a transfer to escrow instruction (TTE instruction) through the CREST system. The offer document will usually encourage shareholders to accept the offer as soon as possible, although many institutional investors will leave this to the very last

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial