Part C - SPECIAL PROVISIONS FOR A SUBSIDIARY COMPANY GETTING DELISTED THROUGH A SCHEME OF ARRANGEMENT WHEREIN THE LISTED HOLDING COMPANY AND THE SUBSIDIARY COMPANY ARE IN THE SAME LINE OF BUSINESS
Payment upon success of the offer: accepted shareholders get discovered or higher price; interest applies for delayed payment. Accepted public shareholders must be paid the discovered price or a higher or fixed price as stated in the public announcement. Payment is via secondary market settlement when the discovered price equals the floor/indicative price or where acceptance is mandatory; otherwise payment must be made within five working days of the public announcement. The acquirer is liable to pay interest on delayed payments, subject to possible waiver for delays beyond the acquirer's control.
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.
Payment upon success of the offer: accepted shareholders get discovered or higher price; interest applies for delayed payment.
Accepted public shareholders must be paid the discovered price or a higher or fixed price as stated in the public announcement. Payment is via secondary market settlement when the discovered price equals the floor/indicative price or where acceptance is mandatory; otherwise payment must be made within five working days of the public announcement. The acquirer is liable to pay interest on delayed payments, subject to possible waiver for delays beyond the acquirer's control.
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