SUBSTANTIAL ACQUISITION OF SHARES, VOTING RIGHTS OR CONTROL - Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
SUBSTANTIAL ACQUISITION OF SHARES, VOTING RIGHTS OR CONTROL - Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
Open offer publication requirements: announcement to exchanges and detailed statement publication and circulation obligations required. Regulation 14 mandates that public announcements for open offers be sent to all stock exchanges where the target is listed (for immediate dissemination) ... Summary
Open offer publication requirements: announcement to exchanges and detailed statement publication and circulation obligations required.
Regulation 14 mandates that public announcements for open offers be sent to all stock exchanges where the target is listed (for immediate dissemination) and that a copy be dispatched to the Board and the target company within one working day. The detailed public statement must be published in specified national and regional newspapers at the target's registered office and at the stock exchange location with the highest recent trading volume, and, simultaneously, sent via the manager to the Board, to all stock exchanges, and to the target company for circulation to its board.
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