Whitewash waiver or whitewash resolution is a corporate law concept originating in Hong Kong and Singapore. It refers to a proposed resolution for the waiver of rights of independent shareholders to receive a mandatory takeover from the undertaking shareholders and its concert parties for the ordinary shares of the company not already owned or controlled by them.[1]
In some cases an investor will apply to the executive for the whitewash waiver, which, if granted, will be subject to the approval of independent shareholders.[2]
References edit
- ^ Khan, Mushera Ambaras (2018). "The Regulation of Takeovers and Mergers in Malaysia". In Wan, Wai Yee; Varottil, Umakanth (eds.). Comparative Takeover Regulation: Global and Asian Perspectives. Cambridge, England and New York: Cambridge University Press. p. 464. ISBN 978-1-107-19527-1.
- ^ French, Derek; Ryan, Christopher L.; Mayson, Stephen W. (2016). Mayson, French & Ryan on Company Law (33rd ed.). Oxford and New York: Oxford University Press. p. 172. ISBN 978-0-19-877830-1.
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