Buy-back disclosure obligations: comprehensive public announcement requirements detailing finances, market data and shareholder impact. The regulation requires a dated, signed public announcement for open market buy-backs containing complete material facts: audited three-year financials and recent certified unaudited results with specified ratios; sources of funds and escrow details; buy-back timetable, process and methodology; detailed market price and volume data with treatment of capital-structure changes; present and post-buy-back capital structure and convertible instruments; aggregate promoter/controller holdings and recent transactions; statutory approvals; compliance officer and investor service centre details; and management discussion of likely impacts.
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.
Buy-back disclosure obligations: comprehensive public announcement requirements detailing finances, market data and shareholder impact.
The regulation requires a dated, signed public announcement for open market buy-backs containing complete material facts: audited three-year financials and recent certified unaudited results with specified ratios; sources of funds and escrow details; buy-back timetable, process and methodology; detailed market price and volume data with treatment of capital-structure changes; present and post-buy-back capital structure and convertible instruments; aggregate promoter/controller holdings and recent transactions; statutory approvals; compliance officer and investor service centre details; and management discussion of likely impacts.
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