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- About the Panel
  - - - About the Panel
        
        The Takeover Panel is an independent body whose main functions are to issue and administer the Takeover Code and to supervise and regulate takeovers and other matters to which the Code applies. Its principal purposes are to ensure fair treatment for all shareholders and an orderly framework for takeover bids.
        
        Read more here
      - In this section:
  - - - Panel membership
    - - Executive
  - - - Committees
    - - Legislative basis
  - - - Compliance and Cold Shouldering
- The Takeover Code
  - - - The Takeover Code
        
        The Takeover Code comprises six General Principles, 38 Rules and nine Appendices. It is designed to ensure fair treatment for shareholders and an orderly framework for takeovers.
        
        Read more here
        
        Order a printed copy of the Code here
      - In this section:
  - - - The Code
    - - Companies to which the Code applies
  - - - Practice Statements
    - - Instruments
- Disclosure
  - - - Disclosure
        
        This section contains resources related to the requirement for any person who is interested in 1% or more of any class of relevant securities of an offeree or offeror company to disclose their dealings and positions.
        
        Read more here
      - In this section:
  - - - Disclosure Table
    - - Disclosure Forms
  - - - Regulatory Information Services (“RISs”)
    - - Rule 8 summary
  - - - Exempt & recognised intermediary status
    - - PTM Levy
- Panel Communications
  - - - Panel Communications
        
        Statements, Bulletins and Annual Reports from the Takeover Panel.
        
        Read more here
      - In this section:
  - - - Panel Statements
  - - - Annual Reports
  - - - Panel Bulletins
  - - - Transaction Statistics
- Checklists, Templates and Fees
  - - - Checklists, Templates and Fees
        
        Checklists and templates for submission by a financial adviser to an offeror or an offeree company (as appropriate) may be downloaded from this section. Information about fees and charges may also be found here.
        
        Read more here
      - In this section:
  - - - How to complete checklists and supplementary forms
  - - - Notes to advisers
  - - - Fees and charges
- Consultation
  - - - Consultation
        
        Consultations into proposed rules and amendments to the Takeover Code, including consultation papers, response statements and individual responses.
        
        Read more here
      - In this section:
  - - - Current consultations
  - - - Closed consultations
- Contact
  - - - How to contact the Takeover Panel
  - - - Address
        
        The Takeover Panel, One Angel Court, London, EC2R 7HJ
  - - - General enquiries
        
        Telephone: +44 (0) 20 7382 9026
        Email: supportgroup@thetakeoverpanel.org.uk
    - - Market Surveillance Unit
        
        Telephone: +44 (0) 20 7638 0129
        Email: monitoring@thetakeoverpanel.org.uk
        
        This email address is to be used solely for transmitting disclosure forms.
  - - - Further information about contacting the Takeover Panel can be found here.

The Takeover Panel

The Takeover Code

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RS2025/1

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Create Date 2 December 2025
Last Updated 2 December 2025

RS2025/1

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RS 2025_1 – Dual Class Share Structures_ IPOs and Share Buybacks	Download

About the Panel

In this section:

The Takeover Code

In this section:

Disclosure

In this section:

Panel Communications

In this section:

Checklists, Templates and Fees

In this section:

Consultation

In this section:

How to contact the Takeover Panel

Address

General enquiries

Market Surveillance Unit

RS2025/1

RS2025/1

Attached Files