Chapter III - SUBSTANTIAL ACQUISITION OF SHARES OR VOTING RIGHTS IN AND ACQUISITION OF CONROL OVER A LISTED COMPANY (From Regulation 10 to Regulation 29A)
Mandatory public announcement for acquirers of promoter shares: disclosure obligations and follow-up options to protect public shareholding. Acquirer of promoter or management shares in a financially weak company must make a public announcement disclosing identity, proposed number and percentage of shares, offer price, specified date, opening date and duration, and must forward a letter of offer to non-promoter shareholders stating options if public shareholding would fall below the threshold, including either a buyout offer at the same price or a disinvestment to restore listing requirements; voting rights for computation are reckoned after the prescribed post-offer period and small-shareholdings must be acquired in full.
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.
Mandatory public announcement for acquirers of promoter shares: disclosure obligations and follow-up options to protect public shareholding.
Acquirer of promoter or management shares in a financially weak company must make a public announcement disclosing identity, proposed number and percentage of shares, offer price, specified date, opening date and duration, and must forward a letter of offer to non-promoter shareholders stating options if public shareholding would fall below the threshold, including either a buyout offer at the same price or a disinvestment to restore listing requirements; voting rights for computation are reckoned after the prescribed post-offer period and small-shareholdings must be acquired in full.
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