On 27 March 2023, LUX GVT issued consolidated version of law of 19 May 2006, transposing dir 2004/25 on takeover bids, applied from 28 Deccember 2005 - 27 July 2022. Background On 24 July 2022, LUX CSSF published consolidated law on takeover bids. he law transposes EU directive 2004/25/EC of 21 April 2004 on takeover…
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Japan – FSA Information Disclosure Guide, Shareholding
On 24 March 2023, JPN FSA updated 2022 list of examples of good disclosure practices. Made additions re overview of corporate governance, audits, remuneration for directors, status of shareholding, and trends on improvements in written disclosure. Reflect example disclosures discussed by study group incl. investors, analysts, firms. Also include examples in response to new 31…
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E.U. – EBRD Procredit Core Shareholding
On 20 March 2023, EBRD said it would be Procredit Holding core shareholder. EBRD will become a core shareholder in ProCredit Holding AG & Co. KGaA subject to regulatory approval, acquiring an additional 5%, bringing total shareholding to 8.7%. ProCredit Holding is parent company of the development-oriented ProCredit Group with subsidiaries in 10 EBRD economies;…
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Rulefinder Alerts to Temporary Short Selling Bans
On 23 March 2023, Rulefinder alerted to multiple temporary short selling bans in S Korea. Short selling bans will be effective for 1 trading day on 24 March 2023.
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Australia – GVT / ASIC’s Relevant Interests
On 20 March 2023, AST GVT registered instruments about relevant interests. AST GVT registered ASIC corporations (relevant interests: ASIC and ASIC chairperson) instrument 2023/194 to preserve the effect of the relief AST ASIC previously provided. Namely, under ASIC class order [CO 12/1209], which is due to sunset 1 April 2023. In addition, AST GVT registered…
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Singapore – MAS Credit Suisse Takeover
On 20 March 2023, SIN MAS commented on operations of Credit Suisse AG. SIN MAS commented on Credit Suisse's operations after annoucement of the takeover. Follows SWI GVT, SWI CB, FINMA March 2023 approved takeover of CS. Statement Takeover is not expected to have an impact on stability of Singapore's banking system. CS customers will…
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