Securities Markets Order, 2013 · s 152

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152.
Tender offer
(1)
No person (including issuers making offers for their own shares and affiliated persons) shall make a tender offer except in accordance with this Order and regulations made by the Authority.
(2)
The Authority may, by regulations, include in the definition of a tender offer in Brunei Darussalam the following 1349
(a)
active, widespread and persistent solicitations of purchase of common securities of a certain issuer;
(b) a person who makes an offer intends to purchase a considerable portion of common securities of an issuer as defined by the Authority;
(c) a person who makes an offer declares the purchase price of securities which exceeds their average market price over an appropriate period determined by the Authority and such additional considerations as may be determined by the Authority;
(d) terms on which an offer is made are permanent and do not vary depending on wishes of a holder of securities;
(e)
a person who makes an offer intends to purchase a known number of securities;
({)
an offer is valid only within time periods established beforehand;
(g) a person to whom an offer is addressed is pressed to sell securities he owns;
(h) an offer is followed or preceded by the appropriate public advertisement;
(i) any other matters as may be determined by the Authority.

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s 152Tender offer

(1)

No person (including issuers making offers for their own shares and affiliated persons) shall make a tender offer except in accordance with this Order and regulations made by the Authority.

(2)

The Authority may, by regulations, include in the definition of a tender offer in Brunei Darussalam the following 1349

(a)

active, widespread and persistent solicitations of purchase of common securities of a certain issuer;

(b)

a person who makes an offer intends to purchase a considerable portion of common securities of an issuer as defined by the Authority;

(c)

a person who makes an offer declares the purchase price of securities which exceeds their average market price over an appropriate period determined by the Authority and such additional considerations as may be determined by the Authority;

(d)

terms on which an offer is made are permanent and do not vary depending on wishes of a holder of securities;

(e)

a person who makes an offer intends to purchase a known number of securities;

({)

an offer is valid only within time periods established beforehand;

(g)

a person to whom an offer is addressed is pressed to sell securities he owns;

(h)

an offer is followed or preceded by the appropriate public advertisement;

(i)

any other matters as may be determined by the Authority.