968 Effect on contractual restrictions
968 Effect on contractual restrictions
Companies Act 2006 | Legislation

(1)     The following provisions have effect where a takeover bid is made for an opted-in company.

(2)     An agreement to which this section applies is invalid in so far as it places any restriction—

(a)     on the transfer to the offeror, or at his direction to another person, of shares in the company during the offer period;

(b)     on the transfer to any person of shares in the company at a time during the offer period when the offeror holds shares amounting to not less than 75% in value of all the voting shares in the company;

(c)     on rights to vote at a general meeting of the company that decides whether to take any action which might result in the frustration of the bid;

(d)     on rights to vote at a general meeting of the company that—