Takeovers Code quick guide

The Takeovers Code is a rule book regulating changes of control of code companies. The code makes sure that all shareholders have equal opportunity to approve or participate in changes of control.

This guide gives an overview of the Takeovers Code and outlines directors’ main obligations under the code, including:

• setting up an independent committee
• appointing an independent advisor
• communicating with shareholders
• preparing a target company statement
• preparing a notice of meeting for shareholders.

For more information about compliance with the Takeovers Code, see also the Takeovers Panel's guide A Basic Guide for Directors about the Takeovers Code.