On 28 March 2024, UK Treasury confirmed successful trading plan means government no longer controlling shareholder in NatWest, its shareholding now below 30%. This is down from the peak government shareholding< of around 84%, since trading plan started in Aug. 2021 approximately £5.8 billion in proceeds has been raised. Reduction of shareholding to around 29.8%…
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Australia – ASIC Relevant Interests, Substantial Shareholdings
On 27 March 2024, AST ASIC reissued guide regarding interests and shareholdings. AST ASIC reissued Regulatory guide 5 - relevant interests and substantial shareholding notices (hereafter, RG 5), which is a guide for investors who acquire an interest in the securities of a company or managed investment scheme, and their advisers. RG 5 supersedes June…
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Pakistan – SEC Consideration for Shares (Takeovers)
On 25 March 2024, PAK SEC issued revised Listed companies (substantial acquisition of voting shares and takeovers) regulations, 2017, which were revised on 24 January 2024. Document dated 25 March 2024, received from PAK SEC 26 March, summarized 1 April 2024.
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Australia – ASIC RG 6 Takeover Exceptions
On 27 March 2o24, AST ASIC reissued regulatory guide on exceptions. AST ASIC said it has reissued RG 6 takeovers: exceptions to the general prohibition. Follows AST ASIC October 2020 updated guidance on share transfers. Key Points Takeover provisions in Ch 6 of ASTCA impose prohibitions restricting a person’s ability to acquire further voting power…
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S Korea – FSS Cautions on Equity Disclosure
On 24 March 2024, SK FSS issued violations, precautions re equity disclosure. SK FSS updated on violations, precautions re equity disclosure by listed companies. Violations/Precautions The acquisition of convertible bonds (CBs), bonds with warrants, or exchangeable bonds equivalent to 5% or more of the total number of issued stocks shall be reported. The stock acquisition…
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Pakistan – SEC Report Shareholding Change
On 25 March 2024 PAK SEC issued circular re filing return with the registrar. PAK SEC issued a circular re filing of return with registrar for change in shareholding. Filing Per the Companies act, 2017, it is mandatory for an unlisted company to report any change of more than 25% in its shareholding, membership or…
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