Panel Statements for 1986

All the links in the following table are to documents in PDF format.

Number Date Subject Summary
1986/41 24/11/1986 MCCORQUODALE PLC Dismissal of appeal against a ruling of the Panel Executive
1986/40 21/11/1986 MCCORQUODALE PLC Notification of an appeal against a ruling of the Panel Executive
1986/39 06/11/1986 IMPERIAL CONTINENTAL GAS ASSOCIATION Rule 8.3 to apply even though the offeree is not governed by Sections 198-210 of the Companies Act
1986/38 06/11/1986 RULE 34 Amendment to Rule 34
1986/37A 17/10/1986 AE PLC Reasons for dismissing an appeal against a ruling of the Panel Executive
1986/37B 27/10/1986 AE PLC Reasons for dismissing an appeal against a ruling of the Panel Executive
1986/36 22/10/1986 RENOUNCEABLE LETTERS OF ALLOTMENT Application of the Code to the acquisition of shares represented by renounceable letters of allotment. The Panel should be consulted in advance
1986/35 22/10/1986 MCCORQUODALE PLC Information based on unsubstantiated assumptions was not prepared to Code standards
1986/34 06/10/1986 MULTI-SERVICE FINANCIAL ORGANISATIONS AND THE CODE Code amendments resulting from emergence of MSFO’s
1986/33 09/09/1986 AE PLC Offeror prevented from commenting on trading in the first six months of the year as this may have the effect of increasing the value of the offer
1986/32 06/08/1986 EXTEL GROUP PLC Interpretation of Rule 35 and concert party members
1986/31 28/07/1986 PANEL EXECUTIVE APPOINTMENT Appointment of new Panel Secretary
1986/30 07/07/1986 STANDARD CHARTERED PLC Dismissal of an appeal against a ruling of the Panel Executive
1986/29 18/06/1986 THE COUNTRY GENTLEMEN’S ASSOCIATION PLC Further extension of offers
1986/28 17/06/1986 THE COUNTRY GENTLEMEN’S ASSOCIATION PLC Panel agrees to an extension of both offers
1986/27 17/06/1986 PEGLER-HATTERSLEY PLC Clarification by Panel that recently published statements of support are ubsubstantiated and based on incorrect information
1986/26 11/06/1986 ROTAFLEX PLC Extension of day 39 pending possible MMC referral
1986/25 10/06/1986 WOOLWORTH HOLDINGS PLC Statement issued by Woolworths was materially deficient. Day 39 suspended until the deficiencies had been made good
1986/24 06/06/1986 THE COUNTRY GENTLEMEN’S ASSOCIATION PLC Following an investigation the Panel ruled that no concert party existed
1986/23 30/05/1986 PETRANOL PLC Concert party breach of Rule 9 – Panel requires sell down
1986/22 29/05/1986 MULTI-SERVICE FINANCIAL ORGANISATIONS AND THE CODE Issues arising out of the emergence of MSFO’s
1986/21 08/05/1986 S & W BERISFORD PLC No cash alternative required following inadvertent breach of Rule 11
1986/20 01/05/1986 EXTEL GROUP PLC Notification that an appeal against a ruling of the Panel Executive has been upheld
1986/19 23/04/1986 EXTEL GROUP PLC Interpretations of the Code in relation to a particular takeover should not be publicised without prior consultation with the Panel
1986/18 23/04/1986 STOCK EXCHANGE TRADING HOURS Code amendments resulting from changes to Stock Exchange trading hours
1986/17 09/04/1986 IMPERIAL GROUP PLC Panel decision that the valuation of the loan stock had been prepared to Code standards
1986/16 03/04/1986 NASDIM JOINS PANEL NASDIM joins Panel with immediate effect
1986/15 02/04/1986 THE DISTILLERS COMPANY PLC Failure to disclose pension fund dealings – breach of Rule 8
1986/14 26/03/1986 CODE AMENDMENTS TO RULES CONCERNING ACCEPTANCES AND OFFEROR PURCHASES OF SHARES Code amendments to deal with short sales
1986/13 26/03/1986 THE PANEL SUBSTANTIALLY RESTRICTS ADVERTISEMENTS CONNECTED WITH TAKEOVERS Panel decision to restrict substantially advertisements in connection with offers
1986/12 26/03/1986 HASLEMERE ESTATES PLC Result of investigation into alleged breach of SARs
1986/11 19/03/1986 THE DISTILLERS COMPANY PLC Requirement for corroboration of profit forecast
1986/10 11/03/1986 IMPERIAL GROUP PLC Clarification that the Panel clears advertisements but does not approve them
1986/09 06/03/1986 THE FINANCING OF THE TAKEOVER PANEL Panel to be independently financed
1986/08 28/02/1986 SUMRIE CLOTHES PLC Suspension of concert party investigation pending DTI report
1986/07 26/02/1986 IMPERIAL GROUP PLC Inadvertent publication of misleading graph
1986/06 20/02/1986 THE DISTILLERS COMPANY PLC Determination of new Day 60 following revision of the Guinness offer
1986/05 18/02/1986 THE DISTILLERS COMPANY PLC Determination of new Day 60 following referral of the Guinness offer to the MMC
1986/04 11/02/1986 UNITED BISCUITS (HOLDINGS) PLC, IMPERIAL GROUP PLC Extension of day 39 pending possible MMC referral
1986/03 07/02/1986 DAVENPORTS BREWERY (HOLDINGS) PLC Non-fulfillment of pre-conditions. Panel to deliberate whether offer can proceed
1986/02 29/01/1986 THE DISTILLERS COMPANY PLC Dismissal of an appeal against a ruling of the Panel Executive
1986/01 15/01/1986 FIRST CASTLE ELECTRONICS PLC Financial adviser responsible for actions of PR adviser
 

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Disclosure Table

Details of offeree companies and offerors currently in an offer period. Positions and dealings in relevant securities must be disclosed under Rule 8 of the Code.

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The Takeover Code

The Takeover Code is designed to ensure that shareholders are treated fairly, are not denied an opportunity to decide on the merits of a takeover and are afforded equivalent treatment by an offeror. It provides an orderly framework within which takeovers are conducted.
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Where to find statements and disclosures notified to a Regulatory Information Service in relation to takeovers regulated by the Takeover Panel.

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