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

 

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Industrial Action: Stats NZ Throwing Public Money Away Duplicating Data

The Public Service Association (PSA) says Statistics NZ are throwing money away by collecting the same data twice for official statistics such as the Consumer Price Index... As part of the ongoing industrial action, field interviewers who are PSA members are continuing to collect data, but are not sending it through to Statistics NZ. More>>

ALSO:

Other Stats:

Space: Rosetta's 'Philae' Makes Historic First Landing On A Comet

After more than a decade traveling through space, a robotic lander built by the European Space Agency has made the first-ever soft landing of a spacecraft on a comet. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news