Revisions reflect amendments in Instrument 2023/4 (central counterparty recovery and resolution), Instrument 2024/1 (The Pensions and Lifetime Savings Association), as well as Instrument 2024/2 (document charges), minor typographical amendments.
An amendment has also been made to section 5(d) Practice Statement 20 (Rule 2 – Secrecy, possible offer announcements and pre-announcement responsibilities).
Amended pages of the Takeover Code will be sent to subscribers in due course.
Panel Statement 31
UK TO Panel issued revised/renamed Practice Statement 31 (Formal sale processes, private sale processes, strategic reviews and public searches for potential offerors).
First issued in Jul. 2017, covering strategic reviews, formal sale processes and other circumstances for seeking potential offerors, but not addressing private sale processes.
The amended version sets out a new practise adopted by Executive to address this.
Published on UK TO Panel website; hard copies to be sent to subscribers in due course.
