Art. 43

(Art. 135 paras. 2–4 FinMIA)

1. The price of the previous acquisition under Article 135 paragraph 2 letter b FinMIA corresponds to the highest price paid by the buyer for equity securities in the target company over the past 12 months prior the to publication of the offer or to the pre-announcement.
2. It must be defined separately for each type of equity security. The price of the most expensive equity security relative to the nominal value shall form the basis for setting the appropriate ratio between the prices of different types of equity securities under Article 135 paragraph 3 FinMIA.
3. The equity securities in the target company acquired through the exchange of securities as part of the previous acquisition shall be calculated at their value at the time of the exchange.
4. If the person buying or selling has added other benefits in addition to the main payment for the previous acquisition, and in particular if the person has provided guarantees or benefits in kind, the price for the previous purchase shall be reduced or increased correspondingly.
5. An audit firm (Art. 128 FinMIA) must review the valuation of the equity securities under paragraph 3 and the adequacy of the increase or decrease under paragraph 4 and present its calculation details in its report.