Nicked from Oinkun...

"SECTION F. THE MANDATORY OFFER AND ITS TERMS
RULE 9
9.1 WHEN A MANDATORY OFFER IS REQUIRED AND WHO IS
PRIMARILY RESPONSIBLE FOR MAKING IT
Except with the consent of the Panel, when:?
(a) any person acquires, whether by a series of transactions over a
period of time or not, an interest in shares which (taken together with
shares in which persons acting in concert with him are interested) carry
30% or more of the voting rights of a company; or

(b) any person, together with persons acting in concert with him, is
interested in shares which in the aggregate carry not less than 30% of
the voting rights of a company but does not hold shares carrying more
than 50% of such voting rights and such person, or any person acting
in concert with him, acquires an interest in any other shares which
increases the percentage of shares carrying voting rights in which he is
interested,
such person shall extend offers, on the basis set out in Rules 9.3, 9.4
and 9.5, to the holders of any class of equity share capital whether
voting or non-voting and also to the holders of any other class of
transferable securities carrying voting rights. Offers for different
classes of equity share capital must be comparable; the Panel should
be consulted in advance in such cases.

Posted By: sixthgo, Jan 25, 21:51:32