12 DEC. 90 17:00
LINKLATERS & PAINES 852 8107021
LINKLATERS & PAINES P, 12
1.
15
Share repurobases which have effects similax to privatisations
If,
a direct or indirect result of a proposed share repurchase, shareholders of an offeror can be compelled, either legally or economically, to dispose of their interest in any shares of the offeror, the Chairman should be consulted regarding appropriate steps that should be taken by the offeror to protect the interests of such shareholders.
Such steps will normally include, without limitation, the appointment of independent financial adviser to advise such shareholders on the merits of an offer and^ approval of the proposed share repurchase by 75% of such shareholders in attendance in person or by proxy at a meeting of such shareholders duly convened and held to consider the share repurchase.
an
NOTEB
1. Stock Exchange delistings
A shareholder may be considered to
to be vader soonomic compulsión to dispose of his shares where shares are to be delisted from the Stock Exchange and the company is not. at the time of the delisting, listed on another exchange recognized by the Stock Exchange and the Chairman,
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