On 9 August 2024, AST GVT registered ASIC corporations (amendment) instrument 2024/664 and explanatory statement, commences 10 August 2024. Amends instrument 2023/688 to clarify takeover bidder must make offers for securities under the bid via relevant financial market, on next day after the date referred to in item 13. No further consultation was required in…
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S Korea – Tax Threshold Change for Major Shareholders
On 8 August 2024, SK Tax issued changes in threshold for substantial shareholding. SK Tax announced changes in tax reporting for major shareholders; the financial threshold for being classified as a major shareholder will increase to KRW 5bn. Announcement Affects those who have transferred stocks within H1 2024, subject to capital gains tax. Minor shareholders…
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India – SEBI Foreign Investors Investment
On 6 August 2024, IND SEBI proposed measures re investments by foreigners. IND SEBI issued consultation paper on investment by foreign investors through segregated portfolios/ participatory-notes/ offshore derivative instruments. Objective Investments made by foreigners through Offshore Derivative Instruments (referred to as ODIs) or through segregated portfolios of FPIs are currently not subject to the same…
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S Korea – FSS Funds Voting Rights Disclosure
On 6 August 2024, SK FSS issued voting rights disclosure inspection outcome. SK FSS issued the results of an inspection on the status of voting rights exercise and disclosure by asset management companies, as well as its future supervisory plan. Follows SK FSS April 2023 set up a task force to revise voting guidelines. Also…
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Hong Kong – SFC Takeover Table Updated
On 7 August 2024, the SFC updated the takeover table to close offer period for L’Occitane Holding S.A. (Stock Code:0973). Effective: The offer period closed on 6 August 2024.
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Hong Kong – SFC Takeovers Table Updated
On 7 August 2024, the SFC announced a new takeover offer period for Hang Pin Living Technology Company Limited (stock code: 1682). Effective: Takeover commenced from 6 August 2024.
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