City code

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January 8, 2016 at 1:53 pm #293844
Robert
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Hi john on page 73 of the notes it states that a provision of the city code is that a general offer to all other shareholders is required if the predator acquires control (30%)

My question is that by owning 30% of the company the predator does not have control of the company, am I looking too much into this?

Many thanks
Robert
January 9, 2016 at 10:14 am #293893
John Moffat
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It is because although there is not legal control, the City Code panel decided that 30% did give them some effective control.
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