ADVOKS GLOBAL · KENYA
The Capital Markets (Take-Overs and Mergers) Regulations
28. Disclosure of dealings by offeree
Edition: 2022-12-31 · In force
28. Disclosure of dealings by offeree
(1)During the offer period the total number and price of all voting shares of the offeror and the offeree which are dealt in by the following persons shall be disclosed by them respectively—(b)substantial shareholders of the offeree;(c)any chief executive, a director of the offeree;(d)any officer of the offeree who occupies or acts in a senior managerial position in the offeree, by whatever name called;(e)a person who is an associated person in relation to persons referred to in paragraphs (a), (b), (c) and (d); and(f)a person who is accustomed to act in accordance with directions or instructions of the persons referred to in paragraph (a), (b), (c), (d) or (e).(2)The disclosure under paragraph (1) shall be made to the relevant securities exchange, and the Authority within twenty four hours of the transaction, outside trading hours.(3)All dealings of voting shares of the offeror or the offeree made by an associated person for the account of investment clients who are not themselves associated persons shall be disclosed to the relevant securities exchange and the Authority, as provided in paragraphs (1) and (2).