12 DEC. 90 17:03
LINKLATERS & PAINES 852 8107021
LINKLATERS & PAINES ŷ P. 3
11.
19
Standard of care and responsibility
Any document or
advertisement addressed to shareholders of an offeree should state that the directors of the offeror have taken all reasonable care to ensure that the facts stated are accurate, the opinions expressed have been arrived at after due and careful consideration, and that no material information has been omitted. It must also be stated that all directors, including any directors who may have delegated detailed supervision of the document to a committee or an individual director, jointly and severely accept responsibility.
NOTES
1. Exclusion of directors from responsiblity
statement
If it is proposed that any director should be excluded from such a statement, the Chairman's consent
In such cases, the exclusion it should be stated in the document
is required.
and reasons for or advertisement.