A new edition of the City Code on Takeovers and Mergers comes into force today: see here (pdf). This new edition includes the amendments announced by the Code Committee in May (see here, pdf) and July (see here, pdf). One of the amendments concerns the reach of the Code: a company which has its registered office in the UK, the Channel Islands or the Isle of Man and whose securities are admitted to trading on a multilateral trading facility in the UK will no longer be required to have its place of central management and control in the UK, the Channel Islands or the Isle of Man in order for the Code to apply.
Monday, 30 September 2013
UK: Takeover Code - new edition comes into force today
A new edition of the City Code on Takeovers and Mergers comes into force today: see here (pdf). This new edition includes the amendments announced by the Code Committee in May (see here, pdf) and July (see here, pdf). One of the amendments concerns the reach of the Code: a company which has its registered office in the UK, the Channel Islands or the Isle of Man and whose securities are admitted to trading on a multilateral trading facility in the UK will no longer be required to have its place of central management and control in the UK, the Channel Islands or the Isle of Man in order for the Code to apply.
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