The Helsinki Takeover Code reflects good securities market practice in Finland and shall be complied with when launching a takeover bid on a Finnish company as well as during other stages of the takeover process. In addition, one must act in accordance with the company and securities markets law and other applicable regulations. In addition to the Helsinki Takeover Code, the Board may also issue other recommendations
An application can be made to the Takeover Board for a statement regarding the interpretation of its recommendations, such as the Helsinki Takeover Code. In case of deviations from the recommendations, misunderstandings, unclarities or uncertainties, the Takeover Board should be consulted to ensure compliance with good securities market practice and the general principles of company law and to increase transparency in the securities market.
In order to obtain a statement, an applicant shall submit an application including appendices to the Takeover Board either in writing or in a reliable way electronically.
One is advised to contact the Takeover Board, preferably during the preparation phase of the planned takeover or other transaction. In order to apply for a Takeover Board statement, please contact the secretariat of the Board. firstname.lastname@example.org
The application shall include:
1) the name of the applicant or the counsel and contact information (postal address, telephone number, facsimile number and e-mail address);
2) the appropriate power of attorney;
3) necessary information on the background of the matter;
4) the question presented to the Board and sufficient information needed to resolve the matter;
5) information on target company’s size in order to prescribe the fees;
6) the extent to and the grounds upon which the applicant considers the information presented in the application to be confidential or insider information; and
7) other information required by the Board or necessary for processing the matter.
The applicant is obliged to pay the fees prescribed by the Takeover Board.