Where a single class of voting shares has been issued by a reporting issuer, the provisions of securities regulation relating to takeover bids are first triggered when a bidder holding 1% of those shares bids for a further

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The provisions of securities regulation relating to takeover bids are typically triggered when a bidder, already holding a certain percentage of shares, bids for a further amount that would bring their total holdings to 20% or more of the voting shares. Therefore, if a bidder already holds 1%, bidding for an additional 19% would trigger these provisions.

Where a Single Class of Voting Shares Has Been Issued