CmaBylaw
Executive Bylaws
3-4 Extending Shares Collection Period Of Module Nine: Mergers and Acquisitions
Section: Chapter Three: Acquisitions
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Thursday, 09 February 2017
An acquisition Offeror may submit to the Authority a request to extend the Collection Period of an Acquisition Offer; in accordance with the following conditions: 1. The acquisition Offeror may submit a request to extend the Collection Period before the acquisition Offer Document is published; with a justified request to be submitted to the Authority that shall include the modified timetable. 2. The acquisition Offeror may submit a request to extend the Collection Period to a maximum of five Business Days before the end of collecting the Offeree company’s shares, and the following procedures shall be adopted: a. The Offeror shall submit to the Authority a request setting out the reasons for its request to extend the Collection Period; provided that the modified timetable of the acquisition Offer Document be attached. b. The Authority shall notify the Offeror of its decision concerning the extension of the Collection Period for those wishing to participate in the Acquisition Offer. c. In the event that the Authority’s approves, the acquisition Offeror shall announce the extension of the Collection Period and publish the updated timetable by using the mechanism of announcement set out in Article (3-3-9) of this Module. d. In the event that the Authority’s rejects the extension request, the Offeror shall follow the original timetable
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