NZ Takeovers Panel wants disclosure of long equity derivative positions

Tue, 28 Aug 2012

Aug. 28 (BusinessDesk) - New Zealand’s Takeovers Panel wants changes to securities law to require disclosure of long equity derivative positions because of the risk they could be used as part of a strategy to build an undisclosed stake in a company in the run-up to a takeover bid. The panel has called for submissions on a consultation paper: Disclosure of Equity Derivative Positions by Oct. 5, giving its preferred option as requiring disclosure of derivative positions on the same terms as current substantial security holder rules. A holder o...

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