147.11. Every offeror whose interest in voting securities of any class issued by a reporting issuer increases to 10% or more shall, immediately after the transaction, issue and file with the Commission a press release in the form prescribed by regulation unless the transaction was effected by way of a take-over bid in accordance with Chapters III and IV or in reliance on an exemption under section 119 or 121. In view of calculating the interest of a person, any security or right enabling him to acquire, after a period of 60 days, securities of a given class is deemed to be securities of that class.
Within two business days, the person shall transmit to the Commission, to the issuer of the securities and, as the case may be, to the stock exchange on which the security is listed, a report containing the information prescribed by regulation.
The same formalities shall be observed in respect of the non-voting shares described in section 115.
1984, c. 41, s. 40; 1987, c. 40, s. 14; 1999, c. 40, s. 327.