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Article 29
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Where an expert verifies the results of the principal’s evaluation, the text shall disclose, inter alia, the following, subject to the circumstances:
- The disclosure shall cover the following, where the expert verifies the results of evaluation which the principal conducts in accordance with Article 16 of the Acquisition or Disposal Regulations:
- method of evaluation employed by the principal and results of such evaluation; in the event of imputation, imputation formula and results of recalculation by the expert.
- raw data used by the principal and results of verification by the expert.
- conclusions of opinions: whether the evaluation method of the principal is legally compliant, and specific opinion on the results of validation of the estimated transaction price.
- The disclosure shall cover the following, where the expert verifies the objective evidence which the principal introduces in accordance with Article 17 of the Acquisition or Disposal Regulations:
- method of evaluation employed by the principal and results of such evaluation; in the event of imputation, imputation formula and results of recalculation by the expert.
- raw data used by the principal and results of verification by the expert.
- where the principal introduces a non-stakeholder transaction as an example, results of verification by the expert that the parties to such transaction are not stakeholders of the principal company and as to the transaction time, amount, place, area, conditions of transaction etc., and whether the comparison with the object under review is legally compliant.
- conclusions of opinions: specific opinions on whether the evaluation method of the principal is legally compliant, on whether the estimated transaction price is comparable to the conditions of transaction with a non-stakeholder, and on the reasonableness of the estimated transaction price etc. .
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