The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023

47. Issuer to appoint advisors and valuers

Edition: 2023-12-15 · In force

47. Issuer to appoint advisors and valuers

(1)The issuer shall appoint—

(a)a transaction advisor, who is an issue manager, to advise on the business combination; and

(b)a competent and independent valuer to value the business or asset to be acquired under the business combination.

(2)A valuation under subregulation (10)(b) shall be conducted in accordance with International Valuation Standards and a summary valuation report shall be included in the shareholders’ circular in relation to the business combination.

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Source: Kenya Law