On 20 August 2024, SK FSS announced the implementation of the finalized short selling guidelines. All corporations wishing to engage in short selling transactions must establish internal control and an intra-organizational balance management system by Q4 2024.
Read more
Croatia – HANFA Consumer Complaints 2023 Re: Takeovers
On Aug. 14, CRO HANFA issued report on consumer complaints 2023. CRO HANFA published a report on consumer complaints (takeover, insurance, etc..) it received during 2023. Highlights In 2023 198 consumer complaints received, 32 (19%) more than in 2022, compared to annual average complaints received from 2016 to 2023 it equates to 16% increase. Complaints…
Read more
U.K. – Takeover Panel Increased PTM Levy
On 14 August 2024, UK TO Panel increased PTM levy rate to 150p per contract. UK Takeover (TO) Panel increase PTM levy rate to 150p per contract where the total consideration of the relevant trade is greater than £10,000 (or the equivalent in any other currency). On same day, CBOE EU published letter from UK…
Read more
Poland – FSA Fines for Substantial Shareholding Failures
On 13 August 2024, POL FSA announced that an application had been submitted for reconsideration of the substantial shareholding case against Perla – Browary Lubelskie SA the decision made on 15 July 2024. Penalties were imposed on Perla – Browary Lubelskie SA, based in Lublin. Fine of PLN 4mn has been imposed for violations of…
Read more
Argentina – CNV Fair Pricing in Takeover Bids
On 12 August 2024, ARG CNV published Resolution 1012 to establish guidelines on fair pricing in takeover bids in the official gazette. General Resolution 1012 comes into force on 13 August 2024. Highlights: Regulations adjust provisions re determination of fair price in OPA, to safeguard interests of the shareholders against the passage of time and…
Read more
Hong Kong – SFC Takeover Table Updated
On 14 August 2024, the SFC updated the takeover table to commence the offer period for Anacle Systems Limited (stock code: 8353). It also updated the takeover table to close out the offer period for Mobile Internet (China) Holdings Limited (Stock Code:1439). Effective: Both takeover announcements are 14 August 2024.
Read more