On 18 August 2023, PAK SEC proposed revision to listed companies rules. PAK SEC proposed amendments to the Listed companies (substantial acquisition of voting shares and takeovers) regulations, to establish a fair, transparent, and competitive framework for takeover transactions involving shares of listed companies. Document dated 18 August 2023, received from PAK SEC 21 August,…
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Qatar – Exc Covered Short Selling
On 22 August 2023, QAT Exc launched securities lending & borrowing activity. QAT Exc announced launch of covered short selling and securities lending/borrowing. Follows QAT FMA September 2022, short selling and securities lending rules. Summary Developed in cooperation with QAT FMA/Edaa (Qatar Depository Company), covered short selling will be subject to QAT FMA covered short…
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Spain – CB Shareholding Notification Fines
On 23 August 2023, ESP CB fined Bnext Electronic Issuer EDE for shareholding reporting failures. ESP CB fined Bnext Electronic Issuer EDE SL €120,000 over serious infringement, directors Guillermo Vicandi Nebreda €12,000, Juan Antonio Rullán de la Mata €6000. The decisions were issued on 28 July 2023 but made public on 23 August 2023. Serious…
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Poland – FSA Fines for Failure to Report Substantial Shareholdings
On 22 August 2023, POL FSA issued final decision re substantial shareholdings in MNI SA. POL FSA issued final decision failure to notify MNI SA substantial shareholdings by Agata Piechocka, Andrzej Piechocki, Jerzy Poludnikiewicz, Marek Poludnikiewicz and Marta Szymanska. Offering Act Breaches Res 259/2023 repealed parts of dec of 26 February 2021 and imposed on…
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Poland – FSA Electronic Forms for Short Selling
On 22 August 2023, POL FSA issued electronic forms to report short selling positions. POL FSA issued electronic forms for reporting short selling in shares. Overview POL FSA prepared the forms in accordance with template in Annex to Reg 826/2012. The short selling notification threshold is 0.1% of company's issued share capital and every 0.1%…
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Poland FSA Electronic Filing for Substantial Shareholding
On 16 August 2023, the Polish FSA announced that electronic disclosure forms are now available for the purposes of substantial shareholding disclosures to the FSA under the Act on Public Offerings. There are 6 forms available Use of the electronic disclosure forms will become mandatory FSA suggests that investors familiarise themselves with the functionality of…
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