Exceeding threshold of 50% in a public company necessitates a tender offer
May 30, 2022
On 30 May 2022 amendments to the act on Public Offering, the Conditions Governing the Introduction of Financial Instruments to Organised Trading, and on Public Companies entered into force. Most relevant changes concern removal of the obligation to announce a tender offer for the sale or exchange of all the shares in the public company resulting from exceeding the threshold of 33% and 66% of the total number of votes, modification of the mechanism of mandatory tender offer and introduction of voluntary tender offer.
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