Forum Archive Index - June 2000

["Oliver Shapleski" <oliver.shapleski@vuw.ac.nz>]

Phil, s2 of the Securities Amendment Act 1988 requires notice to the market
when the shareholding reaches 5% (i.e. not before), when the shareholding
increases or decreases in intervals of 1% after that, and when it falls
below the 5% threshhold.  The notice is supposed to be given as soon as
possible - I would have thought at the end of the day's trading would be
standard if not before.

> To all those company law experts that read sharechat. How long after a buy
> does the company have to publish the SSH notice?
> If the buying is drawn out and they are aiming for more than 5%, do they
> only have to let on once they reach their target or do they have to give
> daily updates to the market as soon as they reach 5%, this does not seem
to
> be the case, but I am not sure what the protocol is. Just interested
really.
>
> Phil
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