In The News

Netherlands – ACM Takeover of RTL by DPG

On 17 May 2024, NLD ACM said more investigation needed into takeover. NLD ACM informed that more investigation is needed into the takeover of RTL by DPG. Follows NLD ACM January 2023 rejection of RTL takeover of Talpa. Main Concerns The acquisition would create a media company with a wide range of television, video streaming,…
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Hong Kong – Updates to Takeover Offer Tables

On 21 May 2024, the  SFC updated the takeover offer tables. Takeover Offer period for Tonking New Energy Group Holdings Limited  (Stock Code: 8326) closed. Takeover Offer period for Holly Futures Co., Ltd. (Stock Code: 3678) closed. Takeover new offer period has commenced for Hong Kong Technology Venture Company Limited (stock code: 1137) from 22…
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Australia – GVT on ASIC Derivative Clearing Re: Takeovers

On 14 May 2024, AST GVT registered an amendment and repeal instrument. AST GVT registered ASIC corporations (amendment and repeal) instrument 2024/229. As per explanatory statement, it repeals instruments which no longer have any legal effect, but would otherwise continue to be identified as in force until their sunset date. Repeals The instrument repeals ASIC…
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Kuwait – CMA Fines for Disclosure and Transparency Violations

On 13 May 2024, KUW CMA fined firm for disclosure, and transparency violation. KUW CMA issued Disciplinary Resolution 76 of 2023 against The Building Company. Imposed a financial penalty against company for violating disclosure and transparency rules of Module 10 of Executive Regulations of Law No. 7 of 2010 and its amendment. Violations Violated provisions…
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U.K. – FCA Fines for Exploitation of Takeover Information

On 10 May 2024, UK FCA reported on sentencing hearing at Southwark Crown Court. Stuart Bayes was sentenced to 18 months’ imprisonment, suspended for 2 years. Also given Rehabilitation Activity Requirement of 35 days, must carry out 150 hours of unpaid work; Judge said Bayes deliberately and dishonestly probed for information on when the takeover…
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Taiwan – EXC Compliance Guide for Insiders, Re: Shareholding

On 10 May 2024, TAI EXC issued compliance guide for listed firm directors. TAI EXC published Compliance brochure for directors and supervisors of TWSE/TPEx-listed and emerging market companies, in both Chinese and English versions. Compliance Brochure Provides a reference of the obligations to be complied with by the directors and supervisors of the relevant TWSE/TPEx-listed/emerging…
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