Pre-issue advertisement requirements for rights issue require specified disclosures and regional publication before subscription opens. Regulation 55 requires issuers to publish a pre-issue advertisement for rights issues disclosing the dispatch date of abridged letters of offer and application forms, centres for obtaining duplicate forms, a plain-paper application option and a prescribed plain-paper format with specified particulars (including name, address, rights ratio, issue price, shareholding details, ledger or depository identifiers, entitlement and application quantities, payment details and cheque particulars). The advertisement must state the procedure for sending applications to the issuer's designated official and warn that duplicate plain-paper and form applications may be rejected at the issuer's option, and must be published in specified national and regional newspapers before the issue opens.
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Provisions expressly mentioned in the judgment/order text.
Pre-issue advertisement requirements for rights issue require specified disclosures and regional publication before subscription opens.
Regulation 55 requires issuers to publish a pre-issue advertisement for rights issues disclosing the dispatch date of abridged letters of offer and application forms, centres for obtaining duplicate forms, a plain-paper application option and a prescribed plain-paper format with specified particulars (including name, address, rights ratio, issue price, shareholding details, ledger or depository identifiers, entitlement and application quantities, payment details and cheque particulars). The advertisement must state the procedure for sending applications to the issuer's designated official and warn that duplicate plain-paper and form applications may be rejected at the issuer's option, and must be published in specified national and regional newspapers before the issue opens.
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