David Webb, editor of Webb-site.com, has been appointed as a new member to the Hong Kong Securities and Futures Commission's (SFC) Takeovers and Mergers Panel and the Takeovers Appeal Committee.
"I am very pleased to be able to contribute to the Panel's work, and as a member of the Panel I will do my best to improve the protections afforded to public shareholders under the Codes on Takeovers and Mergers and Share Repurchases," says Webb.
"In particular, I believe it should be a top priority that the takeover threshold be reduced from its current 35% so that there are fewer cases of takeovers of listed companies without a general offer being made to all shareholders,” he adds. “The Takeover Code can be an important tool for improving Hong Kong’s corporate governance regime.”