Regulatory Alerts2017-12-06
Summary of Amendments to the Rules on Take-overs, Mergers and Compulsory Acquisitions
The Securities Commission Malaysia issued amendments to the Rules on Take-overs, Mergers and Compulsory Acquisitions to align regulatory requirements with the Companies Act 2016 and Malaysian Financial Reporting Standards. The revised rules mandate electronic submission of announcements for unlisted public companies and clarify that certain takeover offer procedures do not apply to schemes. Additionally, the amendments grant automatic exemptions from mandatory offer obligations to sellers in Islamic securities selling and buying-negotiated transactions when specific shareholding thresholds are breached, provided they notify the regulator and submit compliance declarations within three days.
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