January 11, 2007
Summary
◆Two government ordinances and a cabinet order clarifying details of revisions made to the TOB and large shareholding reporting systems were announced on 8 December and 12 December respectively.
◆They include details of the base dates applicable in the case of special large shareholding reports.
◆More specifically, investors can choose between (1) the second and fourth Monday of each month (and fifth if there is one), and (2) the 15th day and last day of each month, as their base dates. Thereafter, reports must be submitted within five business days of their chosen dates.
◆Revisions to the special large shareholding report base dates came into effect as of 1 January 2007.
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