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

Save with the prior consent of the Panel, the provisions of Rules 28 and 30 apply equally to alternative offers, including cash alternatives.

Where a firm statement has been made that an alternative offer will not be extended or reintroduced and that that alternative offer has ceased to be open for acceptance, neither that alternative, nor any substantially similar alternative, may be reintroduced. Where, however, such a statement has not been made and an alternative offer has closed for acceptance, an offeror will not be precluded from reintroducing that alternative at a later date. Reintroduction would constitute a revision of the offer and would, therefore , be subject to the requirements of, and only be permitted as provided in Rule 30.