On 10 April 2024, Blackwells Capital told shareholders of Braemar Hotels & Resorts Inc. that it intends to takeover the real estate investment trust. Blackwells’ told investors it’s takeover is necessary to stop the manager from “milking” the company for all it’s worth.
On 4 April 2024, ROM ASF issued draft rules to amend the AIFs Regulation. ROM ASF issued draft to amend and supplement regulation 7/2020 regarding the authorization and operation of alternative investment funds (AIFs). Follows ROM ASF February 2021 amended rules on authorizing/operating AIFs. Overview Proposals to amend and supplement Regulation 7/2020 on authorization and […]
On 27 March 2024, AST ASIC reissued regulatory guide on takeover bids. AST ASIC reissued Regulatory guide 9 – takeover bids (RG 9), which is a guide for listed and unlisted entities, their advisers, and investors involved in a takeover bid. In addition, AST ASIC explained that RG 9 superseded previous version of Sep. 2020. […]
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 […]
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.
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 […]