Friday, 1 February 2008

Am I allowed to....?

We'll it's no news to anyone watching the financial pages since before Christmas that we've been under the watchful eye of the UK Takeover Panel. This is because of a proposal by BHP Billiton, another company in the mining sector.

One of the unexpected results of this, is the change in what we're allowed to talk about (hence the lack of postings here... yeah, I know) and what we're definitely not.

Blogging (however informal) by someone in a company which is in a potential takeover/merger situation can lead to a breach of all sorts of regulations, both here in the and abroad. The UK's Financial Services Authority (FSA), the Takeover Panel, and lots of corporate lawyers and bankers take a very dim view of people within such a company issuing potentially misleading or unverifiable statements. Our poor lawyers are checking every piece of marketing communications at the moment that goes out from us - and I think they're getting a bit bored writing "source, please" on the bottom of every email!

Of course, I've now got to submit this post to them for approval. No doubt there will be a comment in due course asking for my sources.


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