Manager obligations in open offers: verify funding and disclosure integrity, exercise due diligence, and avoid dealing in target shares. Managers must verify the acquirer's ability to implement the open offer and confirm firm arrangements for funds through verifiable means before the public announcement, exercise professional diligence, avoid dealing on their own account in the target's shares during the offer period, ensure engaged market intermediaries are registered, certify that public announcements and offer documents are true and adequate based on reliable sources, furnish a due diligence certificate with the draft letter of offer, and file a completion report with the Board after the tendering period.