Commission Delegated Regulation (EU) 2020/1272 Article 1: Amendments to Delegated Regulation (EU) 2019/979

Article 1 - Amendments to Delegated Regulation (EU) 2019/979

Article 1

Amendments to Delegated Regulation (EU) 2019/979

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Delegated Regulation (EU) 2019/979 is amended as follows:

((1))

Article 18(1) is amended as follows:

((a))

in point (a), points (i) and (ii) are replaced by the following:

((i))

an issuer where a prospectus relates to shares or other transferrable securities equivalent to shares;

((ii))

an issuer of the underlying shares or other transferable securities equivalent to shares in case of securities referred to in Articles 19(2) or 20(2) of Delegated Regulation (EU) 2019/980;’;

((b))

in point (d), points (i) and (ii) are replaced by the following:

((i))

an issuer where a prospectus relates to shares or other transferrable securities equivalent to shares;

((ii))

an issuer of the underlying shares or other transferable securities equivalent to shares where a prospectus relates to securities referred to in Articles 19(2) or 20(2) of Delegated Regulation (EU) 2019/980;’;

((c))

point (e) is replaced by the following:

((e))

third parties make a new takeover bid as defined in Article 2(1)(a) of Directive 2004/25/EC of the European Parliament and of the Council (^{¹1}) or the result of any takeover bid becomes available in respect of any of the following:

((i))

the equity of the issuer where a prospectus relates to shares or other transferrable securities equivalent to shares;

((ii))

the equity of the issuer of the underlying shares or other transferable securities equivalent to shares where a prospectus relates to the securities referred to in Articles 19(2) or 20(2) of Delegated Regulation (EU) 2019/980;

((iii))

the equity of the issuer of the underlying shares of depository receipts where a prospectus is drawn up in accordance with Articles 6 and 14 of Delegated Regulation (EC) 2019/980;

((d))

in point (f), points (i) and (ii) are replaced by the following:

((i))

shares or other transferrable securities equivalent to shares;

((ii))

securities as referred to in Article 19(2) of Delegated Regulation (EU) 2019/980;’;

((e))

point (h) is replaced by the following:

((h))

in the case of a prospectus relating to shares or other transferrable securities equivalent to shares or to the securities referred to in Articles 19(2) or 20(2) of Delegated Regulation (EU) 2019/980, a new significant financial commitment is likely to give rise to a significant gross change as defined in Article 1, point (e), of that Delegated Regulation;’;

((2))

the following Article 22a is inserted:

‘Article 22a

Summaries of prospectuses approved between 21 July 2019 and 16 September 2020 for non-financial entities issuing equity securities

Summaries of prospectuses that contain information as referred to in Table 3 of Annex I and that have been approved between 21 July 2019 and 16 September 2020 shall continue to be valid until the end of the validity of those prospectuses.’;

((3))

Annex I is amended in accordance with Annex 1 to this Regulation;

((4))

Annex VII is amended in accordance with Annex 2 to this Regulation.

1 ( *1 ) Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover bids ( OJ L 142, 30.4.2004, p. 12 ).’;" ↩