Article 71 of Capital Markets Authority Law

A takeover offer means an offer, attempt or request to acquire: 1 - All shares of a listed company or all shares of any class or classes within a listed company, other than the shares owned by the offeror and its affiliated or allied parties on the date the offer is made. 2- All remaining shares in the company to which the offer is made, which are offered to all other shareholders in that company as a result of the offeror and its affiliated and allied parties holding a majority percentage in the company enabling it to control the board of directors. The Authority shall issue a decision determining the majority percentage required for application of this Article.