"Ordinance of January 30, 2009: A Critical Analysis of the Reform on Declarations of Crossing Shareholding Thresholds and Declarations of Intent" (Droit des Sociétés)

April 2009

In the April 2009 issue of Droit des Sociétés, Alexandre Omaggio published an article, "Ordinance of January 30, 2009: A Critical Analysis of the Reform on Declarations of Crossing Shareholding Thresholds and Declarations of Intent." In the article, Mr. Omaggio analyzed the new legal regime applicable to declarations to be made by investors in the event of crossing certain share capital or voting rights thresholds of a listed company. In particular, he pointed out that investors will still be able to use certain derivatives to increase their shareholdings in a company without having to make any disclosure at the time such derivatives are entered into, and criticized the weak binding effect of the declarations of intent modified by the ordinance.