Latest news with #TakeoverCode
Time of India
13 hours ago
- Business
- Time of India
Sumitomo Mitsui Banking Corporation to seek RBI Yes for licence to operate wholly owned arm
Sumitomo Mitsui Banking Corporation (SMBC) is preparing to approach the Reserve Bank of India for a licence to operate a wholly owned subsidiary, said people with knowledge of the matter. The move by Japan's second-largest banking group is seen as part of a plan to acquire a controlling stake in the private sector lender. SMBC on May 9 signed a definitive agreement. This was for acquiring a 20% stake in Yes Bank from State Bank of India and a clutch of private banks for ₹13,483 crore through secondary market transactions. Once the Japanese bank gets approval to set up a wholly-owned subsidiary, SBI and the other banks are likely to sell their remaining stake-of nearly 14%-in accordance with the road map discussed with RBI by Yes Bank and SMBC, the people said. SMBC operates four branches in India, including one at the International Financial Services Centre in Gift City, Gujarat. Its move to transition from a branch model to a full-fledged subsidiary will facilitate the acquisition of a majority stake in Yes Bank, the people cited above said. Live Events Previously, DBS had received an RBI licence to set up a wholly owned subsidiary in India in 2020, after the Singapore financial services group agreed to acquire the troubled Lakshmi Vilas Bank under a scheme approved by the government. Recently, the central bank in-principle permitted Emirates NBD, which is the frontrunner to acquire a majority stake in IDBI Bank , to set up a wholly-owned subsidiary. SMBC has received a verbal assurance from RBI that it would be allowed to retain a majority stake in Yes Bank, ET reported on May 6. While the plan envisages SMBC getting a nearly 34% stake in Yes Bank, it will not trigger an open offer under the market regulator's Takeover Code. Acquisition of shares beyond 10% or transfer of control in banks requires prior approval from RBI, so such deals are exempted from the open offer requirement. Yes Bank, SMBC and RBI did not respond to requests for comment. Keen to Sell On May 9, Yes Bank announced that SBI would sell 13.2% from the 24% it held in the private lender, to SMBC, while HDFC Bank , ICICI Bank , IDFC First Bank , Bandhan Bank , Federal Bank and IDBI Bank-which jointly held 9.7%-would sell 6.8%. After this transaction, SBI will still have a 10.8% stake. The state-run bank, which rescued Yes Bank in 2020 by investing ₹10,000 crore to keep it afloat, is keen to exit, the people mentioned earlier said. SBI's investment was part of a reconstruction scheme initiated by RBI in March 2020 to rescue the lender that was hit by corporate governance issues, loan defaults and fraud. HDFC Ltd, which has since merged with HDFC Bank, and ICICI Bank each invested ₹1,000 crore in Yes Bank's equity shares while Axis Bank contributed ₹600 crore and Kotak Mahindra Bank put in ₹500 crore. IDFC First Bank, Bandhan Bank, and Federal Bank also participated in the rescue effort with additional investments. SMBC, which had acquired non-bank finance company Fullerton India Credit in 2021 and renamed it SMFG India Credit, may want to merge Yes Bank with itself, subject to RBI's approval, the people cited above said. To have a wholly owned subsidiary, as well as a majority holding in a listed private bank and a non-banking finance company (NBFC) with 100% stake will imply overlapping of several business activities, they said. After completion of the deal announced in May, SMBC will have the right to nominate two members to the Yes Bank board, while SBI, with the remaining 10.8% stake, can name one director. SMBC, which has $1.6 trillion in assets under management, will also have preemptive rights to maintain its pro-rata stake in any future capital raise. The board of Yes Bank will meet on Tuesday to consider plans to raise funds by issuance of equity, bonds or preferential issues, the bank informed exchanges. At the end of March 2025, Yes Bank had a common equity tier 1 ratio of 13.5% while its capital adequacy ratio was 15.6%.
Yahoo
3 days ago
- Business
- Yahoo
Invesco Ltd: Form 8.3 - American Axle & Manufacturing Holdings Inc.; Public dealing disclosure
FORM 8.3 PUBLIC DEALING DISCLOSURE BYA PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the 'Code') 1. KEY INFORMATION (a) Full name of discloser: Invesco Ltd. (b) Owner or controller of interests and short positions disclosed, if different from 1(a):The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of offeror/offeree in relation to whose relevant securities this form relates:Use a separate form for each offeror/offeree American Axle & Manufacturing Holdings, Inc. (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held/dealing undertaken:For an opening position disclosure, state the latest practicable date prior to the disclosure 29.05.2025 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?If it is a cash offer or possible cash offer, state 'N/A' Yes, Dowlais Group plc 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: USD 0.01 common US0240611030 Interests Short Positions Number % Number % (1) Relevant securities owned and/or controlled: 2,171,259* 1.83 (2) Cash-settled derivatives: (3) Stock-settled derivatives (including options) and agreements to purchase/sell: Total 2,171,259* 1.83 *The change in the holding of 18,905 shares since the last disclosure on 08.05.2025 is due to the transfer out of a discretionary holding at 4.46 USD. All interests and all short positions should be of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors' and other employee options) Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages: 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant security Purchase/sale Number of securities Price per unit USD 0.01 common US0240611030 Purchase 1,908 4.43 USD (b) Cash-settled derivative transactions Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit (ii) Exercise Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit (d) Other dealings (including subscribing for new securities) Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state 'none' None (b) Agreements, arrangements, or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:If there are no such agreements, arrangements or understandings, state 'none' None Is a Supplemental Form 8 (Open Positions) attached? NO Date of disclosure 30.05.2025 Contact name Philippa Holmes Telephone number +441491417447 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel's website at
Yahoo
3 days ago
- Business
- Yahoo
Form 8.3 - [GLOBALDATA PLC - 29 05 2025] - (CGWL)
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the 'Code') 1. KEY INFORMATION (a) Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients) (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. N/A (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree GLOBALDATA PLC (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure 29 MAY 2025 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state 'N/A' N/A 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: 0.01p ORDINARY Interests Short positions Number % Number % (1) Relevant securities owned and/or controlled: 10,981,538 1.3616 (2) Cash-settled derivatives: (3) Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL: 10,981,538 1.3616 NOTE: On 29/05/2025, 7,900 shares were transferred out by a discretionary client. All interests and all short positions should be disclosed. Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors' and other employee options) Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages: 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant security Purchase/sale Number of securities Price per unit 0.01p ORDINARY SALE 4,395 182.69p (b) Cash-settled derivative transactions Class of relevant security Product descriptione.g. CFD Nature of dealinge.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit NONE (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Typee.g. American, European etc. Expiry date Option money paid/ received per unit NONE (ii) Exercise Class of relevant security Product descriptione.g. call option Exercising/ exercised against Number of securities Exercise price per unit (d) Other dealings (including subscribing for new securities) Class of relevant security Nature of dealinge.g. subscription, conversion Details Price per unit (if applicable) NONE 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state 'none' NONE (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:If there are no such agreements, arrangements or understandings, state 'none' NONE (c) Attachments Is a Supplemental Form 8 (Open Positions) attached? NODate of disclosure: 30 MAY 2025 Contact name: MARK ELLIOTT Telephone number: 01253 376539 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel's website at
Yahoo
4 days ago
- Business
- Yahoo
Form 8.3 - PRS REIT plc, The
BOSTON, May 29, 2025--(BUSINESS WIRE)-- FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1. KEY INFORMATION (a) Full name of discloser: Weiss Asset Management LP (Investment Manager of Brookdale International Partners, L.P. and Brookdale Global Opportunity Fund) (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. N/A (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree PRS REIT plc, The (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure 28 May 2025 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A" No 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: 1p ordinary – 549,251,458 (ISIN: GB00BF01NH51) Interests Short Positions Number % Number % (1) Relevant securities owned and/or controlled: (2) Cash-settled derivatives: 15,216,017 2.77 (3) Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL: 15,216,017 2.77 All interests and all short positions should be disclosed. Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors' and other employee options) Class of relevant security in relation to which subscription right exists: N/A Details, including nature of the rights concerned and relevant percentages: N/A 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant security Purchase/Sale Number of securities Price per unit N/A N/A N/A N/A (b) Cash-settled derivative transactions Class of relevant security Product description e.g. CFD Nature of dealing e.g. Opening/Closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit 1p ordinary CFD Reducing a long position 250,000 GBP 1.1650 1p ordinary CFD Reducing a long position 80,000 GBP 1.1660 1p ordinary CFD Reducing a long position 250,000 GBP 1.1600 (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit N/A N/A N/A N/A N/A N/A N/A N/A (ii) Exercise Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit N/A N/A N/A N/A N/A (d) Other dealings (including subscribing for new securities) Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) N/A N/A N/A N/A 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none" None (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none" None (c) Attachments Is a Supplemental Form 8 (Open Positions) attached? No Date of disclosure: 29 May 2025 Contact name: Mary Ferruolo Telephone number: +1 617 778 7775 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel's website at View source version on Contacts Weiss Asset Management LP
Business Wire
4 days ago
- Business
- Business Wire
Form 8.3 - Dundee Precious Metals Inc
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the 'Code') 1. KEY INFORMATION (a) Full name of discloser: VanEck Associates Corporation (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure 26/05/2025 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state 'N/A' N/A Expand 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) *No Difference due to net transfer of shares. All interests and all short positions should be disclosed. Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors' and other employee options) Class of relevant security in relation to which subscription right exists: Ordinary shares Details, including nature of the rights concerned and relevant percentages: Expand 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (b) Cash-settled derivative transactions (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying (ii) Exercise (d) Other dealings (including subscribing for new securities) Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) Expand 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state 'none' N/A Expand (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state 'none' N/A Expand (c) Attachments Is a Supplemental Form 8 (Open Positions) attached? NO Expand Date of disclosure: 27/05/2025 Contact name: Paul Weltchek Telephone number: 813-964-3640 Expand Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel's website at
