Drucken
Artikel, Notizen und Markierungen werden geladen... Bitte um etwas Geduld.

Ordinance
of the Swiss Financial Market Supervisory Authority on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading
(FINMA Financial Market Infrastructure Ordinance, FinMIO-FINMA)

of 3 December 2015 (Status as of 1 February 2023)

Art. 20 Takeover proceedings

(Art. 123 para. 1 Fin­MIA)

1 From the pub­lic­a­tion of the pre-an­nounce­ment or of the pro­spect­us (of­fer pro­spect­us) of the takeover of­fer un­til the end of the ex­ten­sion peri­od, the fol­low­ing per­sons are sub­ject ex­clus­ively to the no­ti­fic­a­tion du­ties of the Takeover Board based on Art­icle 134 para­graph 5 Fin­MIA:

a.
the of­fer­or30;
b.
per­sons act­ing in con­cert or as an or­gan­ised group with the of­fer­or;
c.
per­sons un­der Art­icle 134 para­graph 1 Fin­MIA hold­ing at least 3% of the vot­ing rights dir­ectly, in­dir­ectly or in con­cert with third parties, wheth­er ex­er­cis­able or not, in the tar­get com­pany or, if ap­plic­able, in an­oth­er com­pany whose equity se­cur­it­ies are be­ing offered in ex­change;
d.
per­sons des­ig­nated by the Takeover Board in ac­cord­ance with Art­icle 134 para­graph 3 Fin­MIA.

2 Cases re­quir­ing no­ti­fic­a­tion which oc­cur dur­ing the takeover pro­ceed­ings must be re­por­ted in ac­cord­ance with the pro­vi­sions of this Or­din­ance after ex­piry of the ex­ten­sion peri­od.

3 Para­graphs 1 and 2 do not ap­ply to the buy-back of pro­pri­et­ary equity se­cur­it­ies.

30 As most of­fer­ors are leg­al en­tit­ies, gender-neut­ral ter­min­o­logy is not used in this text.