12 DEC. 90 17:03
LINKLATERS & PAINES 852 8107021
LINKLATERS & PAINES jŷ P.6
14.
22
Withdrawal or lapse of an offer
Subject to Rule 4, once the terms of an offer have been announced the offeror shall proceed with the offer unless the posting of the offer document is subject to the prior fulfillment of а specific condition and that condition has not been met.
If an offeror fails to proceed with an offer or if an offer lapses because of the non-fulfillment of a condition the offeror must make an announcement giving reasons for not proceeding with the offer. The offeror must also ensure that share certificates are posted to, or are available for collection by, those offerees who accepted the offer as soon as possible but in any event within seven days of the date that the offer lapses or is withdrawn.