Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result

Here are 5 new actions SEC is initiating to Boost Mergers and Acquisitions in Nigeria

Nairametrics by Nairametrics
March 26, 2015
in Uncategorized
Share on FacebookShare on TwitterShare on Linkedin

The Board of SEC has given approval to the management of the commission to come out with new rules that would make the   nation’s capital market more attractive.

The new rules will shorten approval timelines for M&A deals and  reduce related transaction costs. Under its provisions, the approval process shall now be in two stages instead of the present three-stage process.

Approval in principle

RelatedPosts

Why A Drop In Inflation Does Not Necessarily Mean A Drop In Prices Of Commodities

20 Financial Terms You Need To Know In The Stock Market

“Applicants will now be  required to file a merger notification along with a draft scheme document to the Commission as part of the first stage. Once the Commission conveys its approval-in-principle, the applicant can then file for a court ordered meeting at a Federal High Court.

This implies that the  current requirement, where the applicant must first obtain a letter of ‘No Objection’ before proceeding with any of the processes, will no longer hold,”   the source said.

News continues after this ad


Fees charged

Also, the fees charged for such transactions have been reviewed in the expected framework. Typically, SEC fees on M&A transactions were charged based on the nominal value of the company’s issued and paid-up capital.  However, the regulatory fees will now be calculated based on the total consideration offered for the deal.

News continues after this ad


Minority Interests

In  the area of protecting minority shareholders, the new framework will  make it mandatory for  Directors of a company to issue a ‘Directors’ Circular’ to all shareholders notifying them of a take-over bid intention at least seven days before the date on which the take-over bid takes effect.

Notification to other stakeholders

“Additionally, court ordered meetings must now be adequately disseminated while a copy of notice to employee unions shall be forwarded to the Commission as part of necessary filings,” the source said.

Takeover Price

Similarly, post-bid requirements have been clearly spelt out in the new rules including the treatment of the shares of dissenting shareholders and the deposition of complaints by aggrieved shareholders.  It was gathered that to avoid a situation in which rumours of an M&A deal fuel irrational share price movements, the new framework requires an offeror in an M&A transaction to make a public announcement of take-over on the floor of the securities exchange on which it is listed, in addition to the traditional newspaper publication.

http://www.thisdaylive.com/articles/sec-s-new-rules-to-boost-mergers-and-acquisitions-in-nigeria/204972/

Related

Tags: News Review

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Banks, organised private sector seek increased forex allocation to real sector
    • Oil prices slump by 5% on weak China economic data, expected Iran supply
    • Bond issuances on Nigerian Exchange hits N2.5 trillion in H1 2022

    Follow us on social media:

    Recent News

    Banks warn customers against violation of CBN forex directives

    Banks, organised private sector seek increased forex allocation to real sector

    August 15, 2022
    Oil price surge to boost Nigeria’s foreign reserve by almost $3 billion – Fitch

    Oil prices slump by 5% on weak China economic data, expected Iran supply

    August 15, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com