Chapman Tripp supports the Takeovers Panel efforts to simplify the
application of the Takeovers Code for small companies – we suggest those with
less than $25m total assets.
This would have the benefit of enabling
small companies to be carved out of the Code in their start-up phase, and to
enter it later in the company’s lifecycle. The ability to opt out of the
Code entirely through structuring would remain. We have also supported
most of the technical amendments the Panel recently consulted on.
Our submission to the October 2016 consultation paper is available