ciallaíonn “forbairt scairshealúchais” urrúis a fháil i gcuideachta nach dtarraingíonn oibleagáid dhlíthiúil ná rialála fógra a dhéanamh maidir le tairiscint táthcheangail i ndáil leis an gcuideachta sin.
‘stake-building’ means an acquisition of securities in a company which does not trigger a legal or regulatory obligation to make an announcement of a takeover bid in relation to that company;
go bhfuil gá réasúnach le toilteanas na bpáirtithe atá i dteideal na n-urrús a n-urrúis a thairiscint maidir leis an gcinneadh an tairiscint táthcheangail nó cumaisc a dhéanamh.
the willingness of parties entitled to the securities to offer their securities is reasonably required for the decision to make the takeover bid or merger.
Níor cheart go measfaí gurbh ionann rochtain ar fhaisnéis ón taobh istigh a bhaineann le cuideachta eile agus é a úsáid i gcomhthéacs tairisceana táthcheangail poiblí chun rialú na cuideachta sin a fháil nó cumasc a mholadh leis an gcuideachta sin agus déileáil chos istigh.
The mere fact of having access to inside information relating to another company and using it in the context of a public takeover bid for the purpose of gaining control of that company or proposing a merger with that company should not be deemed to constitute insider dealing.
Gan dochar d’Airteagal 23(3), is ionann nochtadh faisnéise ón taobh istigh ag duine atá ag beartú tairiscint táthcheangail a dhéanamh ar urrúis cuideachta nó cumaisc le cuideachta do pháirtithe atá i dteideal na hurrúis sin agus sondáil margaidh, ar choinníoll:
Without prejudice to Article 23(3), disclosure of inside information by a person intending to make a takeover bid for the securities of a company or a merger with a company to parties entitled to the securities, shall also constitute a market sounding, provided that:
Má bhí luaineacht an-mhór ar fad i bpraghas scaire eintitis ar feadh tréimhse in-sainaitheanta éigin mar gheall ar thairiscint táthcheangail nó mór-athstruchtúrú, mar shampla, d’fhéadfaí neamhaird a dhéanamh den tréimhse sin agus an mheánluaineacht bhliantúil stairiúil á ríomh;
For example, if an entity's share price was extraordinarily volatile for some identifiable period of time because of a failed takeover bid or a major restructuring, that period could be disregarded in computing historical average annual volatility;