Case studies

"It really is saving us a huge number of hours over the days, weeks and months. Having more relevant support at hand, not having to draft or review documents them from scratch - it all adds up."

Southampton FC

Access all 1 documents on First closing date

GET ACCESS NOW

GLOSSARY

First closing date definition

Published by a LexisNexis Corporate expert

What does First closing date mean?

For firm offers announced before 5 July 2021, the Code required an offer to initially be open for at least 21 days following the date on which the offer document is published (Rule 31.1). Since the Code revisions in July 2021, the Code no longer allows an offeror to set a series of closing dates and the concept of a first closing date no longer applies.

Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business–all whilst saving time and reducing risk.

Letter of intent—takeover or scheme of arrangement

Letter of intent—takeover or scheme of arrangement To: The Directors [insert offeror/offeree's name] [Insert address] [Insert date] Dear Directors, Proposed acquisition of [name of offeree] ([Offeree]) by [name of offeror] ([Offeror]) We, [insert name of shareholder(s)], refer to the [proposed] acquisition (the Acquisition) [to be] announced pursuant to Rule 2.7 of the City Code on Takeovers and Mergers (the Code) by [Offeror] on [or about] [insert date] of all the issued [and to be issued] [ordinary] share capital of [Offeree], which is[ currently] intended to be implemented by means of a [contractual offer within the meaning of section 974 of the Companies Act 2006 (the Offer) OR scheme of arrangement under Part 26 of the Companies Act 2006 (the Scheme)]. We are the [registered holder AND/OR [and] beneficial owner] of, or otherwise able to control, for the purposes of this letter, the exercise of all rights attaching to, [insert number] ordinary shares of [insert...

Dive into our 1 Precedents related to First closing date