The Hong Kong Securities
and Futures Commission has announced that Webb-site.com Editor David Webb
is among seven new members appointed to the Takeovers and Mergers Panel
and the Takeovers Appeal Committee. |
Webb Appointed to Takeover Panel
6th April 2001
The Hong Kong Securities and Futures Commission has announced
that Webb-site.com Editor David Webb is among seven new members appointed to the
Takeovers and Mergers Panel and the Takeovers Appeal Committee with effect from
1 April 2001.
Commenting on the appointment, David Webb said "I am very pleased to be
able to contribute to the Panel's work, and as a member of the Panel I will do
my best to improve the protections afforded to public shareholders under the
Codes on Takeovers and Mergers and Share Repurchases. In particular, I believe
it should be a top priority that the takeover threshold be reduced from its
current 35% so that there are fewer cases of takeovers of listed companies
without a general offer being made to all shareholders. The Takeover Code can be
an important tool for improving Hong Kong's corporate governance regime."
Mr Webb was also recently appointed to the Shareholders' Sub-committee of the
Standing Committee on Company Law Reform, and has been promoting a proposal to
establish HAMS - the Hongkong Association of Minority Shareholders, as a
levy-funded body to catalyse shareholder involvement in the corporate governance
process.
Remarking on HAMS, he said "I am very encouraged by the early positive
feedback from a number of quarters on the HAMS proposal. I will continue to
discuss this with interested parties, including industry bodies, government and
legislators. Readers of Webb-site.com should rest assured that my involvement in
the Takeover Panel and Shareholders' Sub-committee will not detract from the
continued activism of Webb-site.com. On the contrary, one can achieve more from
constructive engagement than confrontation."
Related links
HAMS - Representing Minority Shareholders
HK's Takeunder Code
Sign up for our free newsletter
Recommend Webb-site.com to a friend
Important notice: All material on this site, except
where otherwise accredited, is copyright to Webb-site.com.
Media and researchers are welcome to quote from articles on this site, provided that such
quotation is attributed to Webb-site.com. The
information in this site should not be relied upon by any person in making any investment
decision. No responsibility or liability is accepted by Webb-site.com or any person
related to it for any loss arising from or in reliance upon the whole or any part of the
contents of this site. Persons who are in any doubt about an investment or potential
investment should take professional investment advice. From time to time parties associated with Webb-site.com may
own long or short positions in securities issued by or related to companies or governments
on which we comment.
Back to top
|