NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE, OR FORM PART OF, AN OFFER OR AN INVITATION TO PURCHASE, SUBSCRIBE FOR OR SELL ANY SECURITIES OR A SOLICITATION OF ANY OFFER TO PURCHASE, SUBSCRIBE FOR OR SELL ANY SECURITIES. THE OFFER REFERRED TO IN THIS ANNOUNCEMENT WILL BE MADE SOLELY BY WAY OF THE OFFER DOCUMENT AND, WHERE APPROPRIATE, THE RELATED FORM OF ACCEPTANCE WHICH TOGETHER WILL CONTAIN THE FULL TERMS AND CONDITIONS OF THE OFFER, INCLUDING DETAILS OF HOW THE OFFER MAY BE ACCEPTED.
EDI Questions Whether Exchanges Can License Data They Do Not Own Date
01/03/2021
Exchange Data International (EDI) has today released a report that questions whether stock and derivative exchanges have copyright in closing prices, and whether they can license the redistribution of these closing prices.
The report argues that stock and derivative exchanges do not own the copyright in closing prices and nor do they acquire copyright through statements on their websites or in their licensing contracts. Their databases are also not protected by the EU Database Directive, or by a compilation copyright in the US.
It is increasingly clear that no copyright exists in the data and that stock exchange and derivative databases are unlikely to enjoy database protection. Also, antitrust provisions come into play. While an exchange can recover its reasonable costs of supplying data feeds it cannot subsidize its core operations or run a for-profit business by exploiting the monopo
INCREASED CASH OFFER 1. Increased Offer
On 28 October 2020 the board of Nova Resources B.V. ( Bidco ) and the Independent Committee announced the terms of a recommended cash offer to be made by Bidco for the entire issued and to be issued share capital of KAZ Minerals PLC ( KAZ Minerals ) (other than the KAZ Minerals Shares already owned or controlled by members of the Consortium) (the 2.7 Announcement ) and on 7 December 2020, Bidco announced (the Switch Announcement ) that the Acquisition was to be implemented by way of a recommended takeover offer (the Original Offer ).
Bidco and KAZ Minerals are pleased to announce the terms of a significantly increased offer comprising 780 pence in cash for each KAZ Minerals Share (the Increased Offer ), which has been unanimously recommended by the Independent Committee of KAZ Minerals.