Buy-back disclosure requirements: public announcement must fully disclose offer terms and financial and market data. The public announcement for a securities buy-back must be dated and signed by company officers and include full disclosure of material facts: board approval date, necessity and authority for the buy-back, maximum amount and price, number of securities, method and timetable, sources of funds and escrow details, audited financials and ratios, market price and volume data (with treatment for capital structure changes), present and post buyback capital structure, aggregate promoter shareholdings and recent transactions, confirmations on solvency and absence of defaults supported by directors' opinion and auditors' report, statutory approvals, and investor service details.
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 requirements: public announcement must fully disclose offer terms and financial and market data.
The public announcement for a securities buy-back must be dated and signed by company officers and include full disclosure of material facts: board approval date, necessity and authority for the buy-back, maximum amount and price, number of securities, method and timetable, sources of funds and escrow details, audited financials and ratios, market price and volume data (with treatment for capital structure changes), present and post buyback capital structure, aggregate promoter shareholdings and recent transactions, confirmations on solvency and absence of defaults supported by directors' opinion and auditors' report, statutory approvals, and investor service details.
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