Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Handy Guide for Directors on Compliance with Takeovers Code

Handy Guide for Directors about Compliance with Takeovers Code

The Takeovers Panel has published a Basic Guide for Directors about the Takeovers Code.

David Jones, the Chairman of the Takeovers Panel, said “the Guide is designed to assist directors with their oversight of transactions which may have an effect on the control of their company. These transactions include not only takeover offers but also the more common company transactions, such as rights issues, share buybacks, and acquisitions by or allotments to major shareholders in the company”.

The Basic Guide for Directors explains how to identify whether the company is actually covered by the Code and, if it is, whether a transaction will be covered by the Code.

The launch of the Basic Guide for Directors follows on from the launch late last year of the Basic Guide for Shareholders and a series of easy to read Fact-Sheets for Shareholders. The Takeovers Panel published these to help shareholders understand their rights under the Takeovers Code.

CEO of the Institute of Directors, Dr William Whittaker, congratulated the Takeovers Panel on the guidance for directors: "The Basic Guide for Directors is a practical resource for directors to gain greater familiarity with the Takeovers Code and the Panel. We welcome this contribution to director education and the Guide will be available on the IoD website”.

CEO of the Ministry of Business, Innovation and Employment, David Smol, welcomed the Panel’s initiative in producing this free booklet. He noted that the Takeovers Code is part of the regulatory framework that strengthens the integrity of New Zealand’s capital markets. “Helping company directors to better understand their roles and obligations in the capital markets makes good sense. This aligns with the Government’s Business Growth Agenda which includes creating high-performing capital markets”, Mr Smol said.

The Basic Guide for Directors is freely available for downloading on the website of the Takeovers Panel (www.takeovers.govt.nz).

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news