Document ID: chunk:federal_register_of_legislation:F2024C00735:body:0:p2
Version: federal_register_of_legislation:F2024C00735
Segment Type: other
Provision Reference: 
Character Range: 2824–7321

the bidder is not eligible to rely on section 633A—send the bidder's statement and offers to each person (other than the bidder) who, as at the date set by the bidder under subsection (2), holds:                        For subitem (a), to be done:

         • securities in the bid class; or                                                                                                                                                                                              (a) within a 3 day period; and

         • if the bid extends to securities that come to be in the bid class due to the conversion of or exercise of rights attached to other securities or derivatives (see subsection 617(2))–the other securities or derivatives;    (b) within 14—28 days after the bidder's statement is sent to the target.

                                                                                                                                                                                                                                      The directors of the target may agree that the offers and accompanying documents be sent earlier.

                                                                                                                                                                                                                                      See also subsections (5) and (6).

                                                                                                                                                                                                                                      Item 2 of the table in section 611 covers offers made by the bidder on-market during the period between the lodgment of the bidder's statement and the making of offers under the bid.

                                                                                                                                                                                                                                      Sections 648B and 648C provide for the manner in which documents may be sent to holders.
      Or:                                                                                                                                                                                                                               For subitem (b), to be done:

      (b) if the bidder is eligible to rely on section 633A—send the replacement bidder's statement and offers to each person (other than the bidder) who, as at the date set by the bidder under subsection (2), holds:                (a) within a 3 day period; and

         • securities in the bid class; or                                                                                                                                                                                              (b) within 14—28 days after the bidder becomes eligible to rely on section 633A unless one of the following subparagraphs apply in which case it may be done less than 14 days after the bidder becomes eligible to rely on that section:

         • if the bid extends to securities that come to be in the bid class due to the conversion of or exercise of rights attached to other securities or derivatives (see subsection 617(2))–the other securities or derivatives.     (i) the target agrees in writing, where that agreement has been approved in any of the ways a target's statement must be approved under subsection 639(1);

    In either case, the offers must be made on the terms set out in the original bidder's statement and the offer document lodged with ASIC under item 2.                                                                                (ii) ASIC agrees in writing; or

                                                                                                                                                                                                                                         (iii) all changes to the bidder's statement reflect a change in the valuation of securities offered as bid consideration since the day that the bidder lodged the original bidder's statement.";

           (b) omit item 12 in the table in subsection 633(1), substitute:
"12    The target must:

       (a) if the target is not eligible to rely on section 633B—send a copy of the target's statement (and any accompanying report) to each person who, as at the date set by