Companies Act, 1973 (Act No. 61 of 1973)

The Securities Regulation Code on Takeovers and Mergers

The Code

Section I. Conduct during the Offer

Rule 17. Management Buy-Outs
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If the offer or potential offer is for a management buy-out or similar transaction, the offeror or potential offeror shall, on request, forthwith furnish the independent directors of the offeree company and its advisers with all information which has been furnished by the offeror or potential offeror to external providers or potential providers of finance (whether equity or debt) for the buy-out.