- Release Date: 04/05/15 10:18
- Summary: GENERAL: NZX: Takeovers Panel & NZX sign Memorandum of Understanding
- Price Sensitive: No
- Download Document 2.74KB
NZX 04/05/2015 10:18 GENERAL NOT PRICE SENSITIVE REL: 1018 HRS NZX Limited GENERAL: NZX: Takeovers Panel & NZX sign Memorandum of Understanding NZX is pleased to announce it has signed a Memorandum of Understanding (MoU) with the Takeovers Panel (the Panel). The MoU sets out a framework for engagement and cooperation between the two regulators, taking into account their respective roles, notably: o In the case of NZX, the regulation of issuers and participants operating on NZX's licensed markets o In the case of the Panel, oversight of takeovers and other change-of-control transactions regulated by the Takeovers Code, involving Code companies in New Zealand's securities markets NZX Head of Market Supervision Joost van Amelsfort commented: "This memorandum of understanding reflects a desire by our two organisations to work more closely together and support each other in our respective regulatory functions, against a backdrop of new legislation and a changing market environment." "Ultimately, cooperation between our organisations and the sharing of information further assists NZX in its market surveillance activities and contributes to the discharge of NZX's regulatory responsibilities - both of which are fundamental to the operation of well functioning and vibrant markets." Takeovers Panel Chief Executive Margaret Bearsley commented: "The Takeovers Panel and NZX recognise the importance of effective regulation of New Zealand's securities markets to drive investor confidence in the integrity of those markets." The MoU has been published on the NZX and Takeovers Panel websites and also is attached to this announcement. For further information please contact: Kate McLaughlin Corporate Communications T: 09 309 3654 M: 027 533 4529 E: [email protected] About NZX Limited NZX builds and operates capital, risk and commodity markets and the infrastructure required to support them. We provide high quality information, data and tools to support business decision making. We aim to make a meaningful difference to wealth creation for our shareholders and the individuals, businesses and economies in which we operate. To learn more about NZX, please visit: www.nzxgroup.com About the Takeovers Panel The Takeovers Panel is a body corporate established under the Takeovers Act 1993. The role of the Panel and the Code is to ensure that all shareholders have a fair opportunity to participate in control-change transactions in Code companies (such as takeovers and allotments or acquisitions of parcels of shares). The Code also ensures that shareholders have adequate information to assist their decision-making for these transactions. To learn more about the Panel please visit: www.takeovers.govt.nz End CA:00263843 For:NZX Type:GENERAL Time:2015-05-04 10:18:29
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