Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:1_663a
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 1 cl 663A
Character Range: 323150–323859

663A  Bidder must offer to buy out holders of convertible securities

  If the bidder and their associates have relevant interests in at least 90% of the securities (by number) in the bid class at the end of the offer period, the bidder must offer to buy out the holders of securities that are convertible into bid class securities in accordance with sections 663B and 663C. This section does not apply to securities if a takeover bid has been made for the convertible securities and a notice has been given under section 661B or 662B in relation to the convertible securities.

Note: For when securities are convertible into bid class securities, see the definition of convertible securities in section 9.