Proposed Guidance Note On Dividends - Public Consultation Response Statement [24/07/2014] The Takeovers Panel

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24 July 2014

Proposed Guidance Note On Dividends
Public Consultation Reponse Statement

On 10 January 2014, the Takeovers Panel released a Consultation Paper seeking public comments on a proposed guidance notice in relation to dividends.

Comments on the Consultation Paper were due by 28 February 2014 and the Panel received 5 submissions in response.  The Panel thanks those who made submissions for their comments. Some respondents provided combined submissions on a number of consultation papers.  Attached to this response statement are extracts of the submissions relevant to the proposed guidance note on dividends (Annexure A).

On 24 July 2014, the Panel advised, following consideration of the submissions, that it had decided not to publish a guidance note on dividends at this time (see TP 14/62).

As the Panel’s position on a number of issues arising from the consultation paper has not been settled, the Panel has decided not to publicly respond to the submissions made.  The Panel will take the submissions into account should it revisit the making of policy in this area.

Annexure A

Extracts of Submissions