RVL Pharmaceuticals plc Announces Result Of Proposal To Approve A Waiver Of Offer Obligations Under Rule 9 Of The Irish Takeover Rules At Annual General Meeting
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RVL Pharmaceuticals plc (NASDAQ:RVLP) announced the approval of a waiver of offer obligations under Rule 9 of the Irish Takeover Rules at its Annual General Meeting. This allows the acquisition of ordinary shares by the company's major shareholders and certain members of its management team without incurring an obligation to make a general offer to other shareholders.
June 15, 2023 | 8:22 pm
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RVL Pharmaceuticals' approval of a waiver of offer obligations may lead to an increase in shareholding by major shareholders and management, potentially impacting the stock price.
The approval of the waiver of offer obligations allows major shareholders and certain members of RVL Pharmaceuticals' management team to acquire ordinary shares without incurring an obligation to make a general offer to other shareholders. This may lead to an increase in shareholding by these parties, which could potentially impact the stock price. However, the short-term impact is uncertain as it depends on the actions taken by the major shareholders and management.
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