RG 102
Tender offers by vendor shareholders
Issued 2 October 1995. This guide indicates the circumstances in which we will exercise our discretionary powers in order to facilitate the sale of shares by tender where at least 20% of a company’s shares are being offered for sale.
In plain English
This guide explains when ASIC might use its powers to help with share sales through tender offers, when 20% or more shares are offered.
RG 102 applies to companies and individuals involved in tender offers for shares. It outlines circumstances where ASIC may use its discretion to ease the sale of shares. The guide was issued on 2 October 1995. It helps facilitate sales when at least 20% of a company’s shares are being offered.
Why it matters
If your company is selling a significant portion of its shares through a tender offer, understand this guide. It could impact how ASIC regulates the process, potentially simplifying the sale.
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Source: https://www.asic.gov.au/regulatory-resources/find-a-document/regulatory-guides/rg-102-tender-offers-by-vendor-shareholders/. Rules Mate indexes + summarises; always verify against the regulator's live publication.