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ASIC Corporations (Replacement Bidder’s and Target’s Statements) Instrument 2023/688
“633A Off-market bid—Replacement bidder’“633A Off-market bid—Replacement bidder’s statement
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“633A Off-market bid–Replacement bidder’s statement
(1) This section applies to an off-market bid before the bidder’s statement has been sent to any holder of bid class securities.
(2) For the purposes of subitem 6(b) of the table in subsection 633(1), a bidder is
eligible
to rely on this section if the bidder, no later than the time allowed for sending the original bidder’s statement to persons holding bid class securities under subitem 6(a) of the table in subsection 633(1):
(a) lodges with ASIC; and
(b) sends to the target; and
(c) if the bid class securities are quoted and the target is listed—sends to the operator of each prescribed financial market on which the target’s securities are quoted;
a replacement bidder’s statement and a copy of that replacement bidder’s statement marked to show all changes from the original bidder’s statement.
(3) In
this
section and subsection 633(1):
replacement bidder’s statement means a bidder’s statement that:
(a) incorporates all the substantive information in an original bidder’s statement and in each supplementary bidder’s statement that was lodged in relation to the original bidder’s statement before, or at the same time as, the time when the replacement bidder’s statement is lodged with ASIC; and
(b) explains that it replaces the original bidder’s statement and each supplementary statement and states the date or dates that the original bidder’s statement and each supplementary statement were lodged with ASIC; and
(c) bears a date that is the same as the date that it is lodged with ASIC; and
(d) sets out or reflects offers under the bid that are on the same terms as those set out in the original bidder’s statement and offer document (if any) lodged with ASIC under item 2 of the table in subsection 633(1).”;
(d) after section 633A insert: