Exit mechanism for issuers: board and shareholder approval plus floor price and stock exchange acceptance required. Exit from the Innovators Growth Platform requires board approval and a shareholder special resolution passed via postal ballot or e voting, effective only if a majority of public shareholders voting support the exit after full disclosure. Delisting price must be based on a floor price determined under substantial acquisition and takeover principles with any additional premium justified by the acquirer or promoter. The post offer promoter/acquirer holding together with accepted tenders must meet prescribed acceptance benchmarks, and the recognised stock exchange(s) where the securities are listed must approve the exit.
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Provisions expressly mentioned in the judgment/order text.
Exit mechanism for issuers: board and shareholder approval plus floor price and stock exchange acceptance required.
Exit from the Innovators Growth Platform requires board approval and a shareholder special resolution passed via postal ballot or e voting, effective only if a majority of public shareholders voting support the exit after full disclosure. Delisting price must be based on a floor price determined under substantial acquisition and takeover principles with any additional premium justified by the acquirer or promoter. The post offer promoter/acquirer holding together with accepted tenders must meet prescribed acceptance benchmarks, and the recognised stock exchange(s) where the securities are listed must approve the exit.
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