On 13 June 2022, UK TO Panel confirmed publication of the revised takeover code.
- Reflects amendments made by Instruments 2022/1 (limitation on length of service of Panel members), 2022/2 (miscellaneous code amendments), 2022/3 (document charges), and 2022/4 (removal of restriction on anonymous order book dealings).
- Consequential amendments made to practice statements 19, 20, 24, 28 and 29.
- Panel Executive also published a new practice statement 33 (purchases of shares in the offeree company by an offeror during an offer period), on the Panel’s website.
- And published Panel bulletin 4 (calculation of the value of an offer), on the website.