ADVOKS GLOBAL · KENYA
Companies Act
583. Interpretation: Part XXIV
Edition: 2024-12-27 · In force
583. Interpretation: Part XXIV
(1)In this Part—"associate" has the meaning given by section 589;"Authority" means the Capital Markets Authority;"the company" means the company whose shares are the subject of a takeover offer;"date of the offer" means—(a)if the offer is published, the date of publication;(b)if the offer is not published, or if any notices of the offer are given before the date of publication, the date when notices of the offer, or the first such notices, are given;"holder of shares" includes—(a)a person who holds debentures that—(i)are issued by a company to which section 588 applies; and(ii)confer voting rights;(b)a person who holds securities of a company that are convertible into, or entitle the holder to subscribe for, shares of the company;"non-voting shares" means shares that are not voting shares;"offeror" means (subject to section 588) the person making a takeover offer;"offer period", in relation to a takeover offer, means the period from and including the date of the offer and ending with the time the offer can no longer be accepted;"takeover offer" has the meaning given by section 584;"the Takeover Rules" means the rules made in accordance with section 592;"voting rights” means rights to vote at general meetings of the company, including rights that arise only in certain circumstances;"voting shares" means shares conferring voting rights.(2)A person contracts unconditionally to acquire shares if the person's entitlement under the contract to acquire them is not, or is no longer, subject to conditions or if all conditions to which it was subject have been satisfied, and a reference to a contract becoming unconditional is to be read accordingly.