Offer procedure: buy-back offers must be dispatched within prescribed timeframes and open for a limited statutory period with pro rata acceptance. Offer procedure for buy-back requires prompt despatch of the letter of offer after filing and that the offer remain open to members for a limited statutory period. Oversubscription is to be met by proportionate acceptances. The company must verify offers within a short verification window after closure, and shares lodged are deemed accepted unless rejection is communicated within the specified notification period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Offer procedure: buy-back offers must be dispatched within prescribed timeframes and open for a limited statutory period with pro rata acceptance.
Offer procedure for buy-back requires prompt despatch of the letter of offer after filing and that the offer remain open to members for a limited statutory period. Oversubscription is to be met by proportionate acceptances. The company must verify offers within a short verification window after closure, and shares lodged are deemed accepted unless rejection is communicated within the specified notification period.
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