SPECIAL PROVISIONS FOR A SUBSIDIARY COMPANY GETTING DELISTED THROUGH A SCHEME OF ARRANGEMENT WHEREIN THE LISTED HOLDING COMPANY AND THE SUBSIDIARY COMPANY ARE IN THE SAME LINE OF BUSINESS - Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021.
SPECIAL PROVISIONS FOR A SUBSIDIARY COMPANY GETTING DELISTED THROUGH A SCHEME OF ARRANGEMENT WHEREIN THE LISTED HOLDING COMPANY AND THE SUBSIDIARY COMPANY ARE IN THE SAME LINE OF BUSINESS - Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021.
Detailed public announcement requirement mandates timely, complete and signed disclosure by acquirer to identify shareholders for the letter of offer. The regulation requires the acquirer, upon receipt of in-principle delisting approval, to publish a detailed public announcement in specified newspapers ... Summary
Referred In :
Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021.
Detailed public announcement requirement mandates timely, complete and signed disclosure by acquirer to identify shareholders for the letter of offer.
The regulation requires the acquirer, upon receipt of in-principle delisting approval, to publish a detailed public announcement in specified newspapers within one working day containing all material information including Schedule I items, to set a specified date for identifying shareholders for the letter of offer, and to ensure the announcement is dated and signed; corporate acquirers must have the announcement signed on behalf of the board by the manager or secretary (if any) and by at least two directors, one being the managing director where applicable.
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