ADVOKS GLOBAL · KENYA
The Capital Markets (Take-Overs and Mergers) Regulations
22. Evidence of ability to implement the take-over offer
Edition: 2022-12-31 · In force
22. Evidence of ability to implement the take-over offer
(1)A person who is required to make an announcement under regulation 20 shall ensure and the person's financial adviser shall be reasonably satisfied that—(a)the take-over offer would not fail due to insufficient financial capability of the offeror; and(b)every offeree shareholder who wishes to accept the take-over offer will be paid in full.(2)A person who has no intention of making an offer in the nature of a take-over offer shall not give notice or publicly announce the intention to make a take-over offer.(3)A person shall not make a take-over offer or give notice or publicly announce that it intends to make such an offer it has no reasonable or probable grounds for believing that it will be able to perform its obligations if the offer is accepted.