On 10 April 2020, ITA Consob issued enhanced substantial shareholding reporting obligations. Consob adopted two provisions for enhanced transparency regarding obligation to disclose substantial shareholdings for some Stock Exchange listed Italian companies. Also cover declaration of intentions acquisition of shareholdings in listed companies. Resolutions 21326, 21327 Resolution nos. 21326 and 21327, both Apr. 9, 2020,…
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Cayman – GVT Beneficial Ownership Rules
On 30 March 2020, CAY GVT widened scope of substantial shareholding / beneficial ownership in companies law, limited liability companies law from over 25% shares, voting rights, to 25% or more of the shares or voting rights in a company. The change will go into effect on 15 May 2020.
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India – SEBI Substantial Acquisitions
On 3 February 2020, IND SEBI proposed amendments to regulations. The aim of the discussion paper is to seek feedback from the public on the proposed amendments in SEBI (substantial acquisition of shares and takeovers) regulations. Proposals Completion of acquisition through stock exchange settlement process for all types of deals including bulk and block deals…
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Japan – TSE Protect Minority Shareholders
On 29 November 2019, TSE set up study group on quasi-controlled listed firms. TSE established a study group to review the protections for minority shareholders. In light of recent events and impact on framework of quasi-controlled listed firms. Scope of Group The study group will discuss such matter as managing shareholder conflict of interest. Including…
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South Korea – FSC Large Shareholding Reports
On 5 September 2019, SK FSC proposal to amend large shareholding reporting. Consultation on plan to amend large shareholding reporting rules (so called 5% rule). Substantial Shareholding Reports Under the 5% rule, a person who holds 5% or more of the equity securities of a listed company or who thereafter changes its holdings by 1%…
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Qatar – Substantial Shareholding Foreign Limit
On 3 June 2019, QAT Exc said Qatar Central Securities Depository modified foreigners’ ownership limit of Doha Insurance Group to become 49% of the company's capital.
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