§ 18-1150. Notice of control share acquisition.

NOTICE OF CONTROL SHARE ACQUISITION

Any acquiring person who proposes to make a control share acquisition may, at the person's election, and any acquiring person who has made a control share acquisition shall, deliver an acquiring person statement to the issuing public corporation at the issuing public corporation's principal office.  The acquiring person statement must set forth all of the following:

1.  The identity of the acquiring person;

2.  A statement that the acquiring person statement is given pursuant to Sections 1145 through 1155 of this title;

3.  The number of shares of the issuing public corporation owned, directly or indirectly, by the acquiring person, the acquisition date and the prices at which such shares were acquired;

4.  The voting power to which the acquiring person, except for Section 1149 of this title, would be entitled;

5.  A form of resolution to be considered by the shareholders pursuant to Section 1153 of this title; and

6.  If the control share acquisition has not yet occurred:

a.a description in reasonable detail of the terms of the proposed control share acquisition, and

b.representations of the acquiring person, together with a statement in reasonable detail of the facts upon which they are based, that the proposed control share acquisition, if consummated, will not be contrary to law, and that the acquiring person has the financial capacity to make the proposed control share acquisition.

Added by Laws 1987, c. 146, § 20, emerg. eff. June 24, 1987.  Amended by Laws 1991, c. 53, § 9, eff. Sept. 1, 1991.