Articles 63 and 64
1. The terms of the offer must be recommended by all the directors of the company other than any director who is -
(a) the person by whom, or on whose behalf, an offer is made ("offeror"); or
(b) a director of the offeror.
(1) This paragraph applies to an offer for debentures or for non-equity share capital.
(2) Where, at the date of the offer, shares carrying 50 per cent or less of the voting rights attributable to the equity share capital are held by or on behalf of the offeror, the offer must include or be accompanied by an offer made by the offeror for the rest of the shares comprised in the equity share capital.
(1) This paragraph applies to an offer for shares comprised in the equity share capital.
(2) Where, at the date of the offer, shares which carry 50 per cent or less of the categories of voting rights described in sub-paragraph (3) are held by or on behalf of the offeror, it must be a condition of the offer that sufficient shares will be acquired or
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