23.1 THE OFFER DOCUMENT

(a) The Bidder must, normally within 28 days of the announcement of a firm intention to make an offer, send an offer document to shareholders in the Target and persons with information rights, in accordance with Paragraph 29.1 and must make the document readily available to the employees themselves. At the same time, both the Bidder and the Target must make the offer document readily available to their employee representatives (or, where there are no employee representatives, to the employees themselves). The Panel must be consulted if the offer document is not to be published within this period.
(b) On the day of publication, the Bidder must:
(i) publish the offer document on a website in accordance with Paragraph 25.1; and
(ii) inform the Panel that the offer document has been so published, following which the Panel will publish notice of this fact on the ADGM website.