Anyone who, on 1 February 1997, directly, indirectly or acting in concert with third parties held securities which granted him or her more than 33⅓% but less than 50% of the voting rights of a target company must make an offer for all listed equity securities of the company if he or she acquires equity securities and thereby exceeds the threshold of 50% of the voting rights.
Paragraph 1 also applies to holdings which were covered by the provisions on public takeover offers for the first time on 1 May 2013.
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