RE: Growing business with no debt. 2p+ price target this year.4 Feb 2025 20:08
Update:
If an Australian registered company is listed on the UK stock exchange, the takeover rules that would primarily apply are those of the UK Takeover Code, as the company is considered "UK listed" and therefore falls under the jurisdiction of the Takeover Panel, despite its Australian registration; however, recent changes to the code mean that the rules would only apply if the company is actively traded on a UK exchange and not solely on an overseas market.
Key points to remember:
Focus on listing location:
The key factor determining which takeover rules apply is where the company is listed, not where it is registered.
"Residency test" removed:
Previously, a "residency test" considered where the company's central management and control was located, but this is no longer a factor in determining if the UK Takeover Code applies.
Australian takeover rules may still be relevant:
Even if the UK Takeover Code applies, certain aspects of Australian takeover laws might still be relevant depending on the specific circumstances and shareholder structure of the company.