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Briefs
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Takeover Code revisions to take effect
14th September 2011
On 5 September 2011, the Takeover Panel announced that recent amendments to the Takeover Code will take affect from the expected date of Monday 19 September 2011.
The amendments, which were the subject of lengthy consultations following Kraft's controversial £11.4 billion hostile takeover of Cadbury, focus on the following issues:
- the naming and deadline of virtual bids
- prohibition of deal protection
- target board opinion on an offer
- disclosure of advisor's fees
- disclosure of bid financing and historical financial information
- disclosure of intentions regarding the target company and its employees
- greater rights for employee representatives
The Takeover Panel have also announced that from 19 September there will be a Disclosure Table available, which gives details of the deadline (if any) by which a potential offeror is required to announce a firm intention to make an offer or that it does not intend to make an offer, under the new rule 2.6.
For background on these amendments, please click here to read a news story about the most recent consultation. We are also planning to produce a more detailed analysis of the changes and how it could affect quoted companies.
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Events
Conference 2012 - Engineering Growth For Small & Mid-Cap Companies
Join us at our inaugural one-day conference for the 'engines of growth' - the small and mid-cap quoted company community. Company directors, advisors and investors - come together, network with peers, share experiences, hear from policymakers and key market players, and influence the debate about how this important sector can help drive economic recovery in the UK.
Considering and Communicating Executive Pay
With the executive remuneration debate heating up, we are holding a roundtable event for company directors to discuss the key issues you need to consider in setting and communicating pay and to launch our new Remuneration Committee Guide for Smaller Quoted Companies.
Market Maker Event 2012
Just how do market makers operate and how do they set the price? Ever wanted to meet the people who make a market in your stocks? Come along to a QCA Market Maker Event to find out.
Guides
Remuneration Committee Guide for Smaller Quoted Companies (February 2012) - Downloadable PDF
This guide aims to provide practical guidance to smaller quoted companies on how to develop a bespoke, appropriate approach to remuneration. The guide covers the objectives of the remuneration committee, factors to consider in setting remuneration policy, communicating with shareholders, and remuneration committee membership, organisation and functions. This is a downloadable PDF.
Newsround
Newsround is the QCA's monthly newsletter produced for the small and mid-cap community.
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