Whitewash waiver or whitewash resolution is a corporate law concept originating in Hong Kong and Singapore. It refers to a proposed resolution for the waiver of rights of independent shareholders to receive a mandatory takeover from the undertaking shareholders and its concert parties for the ordinary shares of the company not already owned or controlled by them.
In some cases an investor will apply to the executive for the whitewash waiver, which, if granted, will be subject to the approval of independent shareholders.
References
- Khan, Mushera Ambaras (2018). "The Regulation of Takeovers and Mergers in Malaysia". In Wan, Wai Yee; Varottil, Umakanth (eds.). Comparative Takeover Regulation: Global and Asian Perspectives. Cambridge, England and New York: Cambridge University Press. p. 464. ISBN 978-1-107-19527-1.
- French, Derek; Ryan, Christopher L.; Mayson, Stephen W. (2016). Mayson, French & Ryan on Company Law (33rd ed.). Oxford and New York: Oxford University Press. p. 172. ISBN 978-0-19-877830-1.
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