Shearman & Sterling LLP
Issue link: https://digital.shearman.com/i/1494420
Illustrative Timetable 58 Public to Private Transactions – What You Need To Know Issue of a "possible offer" announcement Issue detailed press release announcing a "firm" Offer (Rule 2.7) Post Offer Document Minimum acceptance period for Offer Date in timetable when a "suspended" Offer resumes Earliest date for closing an Offer (must remain open for at least 14 days after becoming unconditional – Earliest unconditional date is D+21) Day -56 D +32 +35 +21 -28 +37 Trigger date for requesting a suspension of Offer timetable for regulatory uncertainty CONTRACTUAL OFFERS SCHEME OFFERS Issue of a "possible offer" announcement Issue detailed press release announcing Scheme (Rule 2.7) Issue claim form in Court for permission to convene shareholders' meeting Hearing of claim form Post Scheme Document Court convened shareholders' meeting to approve the Scheme (e.g.) – Elections for alternative consideration must remain open up to 7 days before sanction hearing Day (e.g.) – Court hearing to sanction Scheme Last date for competing bidder to clarify intentions (See note (3)) -56 -7 +21 +28 D -28 +35 +14