What must be disclosed during the offer period?

During the offer period, it is critical to disclose any dealings in relevant securities by the offeror. This requirement ensures transparency and fairness in the market, allowing all stakeholders and potential investors to be aware of the offeror's activities concerning the securities in question. When the offeror engages in transactions, especially during a takeover bid, it can influence the perceptions and decisions of shareholders, making it essential for such dealings to be disclosed fully.

This disclosure obligation serves multiple purposes: it helps to prevent insider trading, promotes market integrity, and provides necessary information for competition among bidders. Shareholders and market participants rely on this information to make informed decisions regarding their investments, particularly when there could be implications on the value of the shares involved in the offer. By mandating the disclosure of all relevant dealings, the regulatory framework aims to maintain a level playing field for all investors during the sensitive period of an offer.