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Companies (Acquisition of Own Shares) (Treasury Shares) Regulations (Northern Ireland) 2004

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Amendment of Article 421 of the 1986 Order

27.  For Article 421(2) of the 1986 Order (takeover offers)(1) substitute –

(2) In paragraph (1) “shares” means shares (other than relevant treasury shares) which have been allotted on the date of the offer, but a takeover offer may include among the shares to which it relates –

(a)all or any shares that are allotted after the date of the offer but before a specified date;

(b)all or any relevant treasury shares that cease to be held as treasury shares before a specified date;

(c)all or any other relevant treasury shares.

(2A) In this Article –

“relevant treasury shares” means shares which –

(a)

are held by the company as treasury shares on the date of the offer; or

(b)

become shares held by the company as treasury shares after that date but before a specified date;

“specified date” means a date specified in or determined in accordance with the terms of the offer..

(1)

Article 421 was substituted by Article 26 of the Companies (Northern Ireland) Order 1989

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