Whitewash waiver explained

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.^[1]

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.^[2]

References

1. Book: Khan, Mushera Ambaras. https://books.google.com/books?id=UBs3DwAAQBAJ&pg=PA464 . Comparative Takeover Regulation: Global and Asian Perspectives . Cambridge University Press . 2018 . 978-1-107-19527-1 . Wan . Wai Yee . Cambridge, England and New York . 464. The Regulation of Takeovers and Mergers in Malaysia. Varottil. Umakanth.
2. Book: French. Derek. Mayson, French & Ryan on Company Law. Ryan. Christopher L. . Mayson . Stephen W. . Oxford University Press . 2016 . 978-0-19-877830-1 . 33rd . Oxford and New York . 172.