Takeovers Code gives Chows room to waive mop-up provisions

Wed, 30 Mar 2016

By Paul McBeth March 30 (BusinessDesk) - John and Michael Chow are the first dominant owners of a company in recent memory to give shareholders the option of selling out of what was a shell company when they crossed the 90 percent threshold in a reverse listing of part of their property empire. Typically when a shareholder becomes the dominant owner - holding 90 percent or more of a company's shares - they will use mop up provisions forcing the remaining investors to sell. But the Takeovers Code allows for a voluntary sale process where...

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