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
Exit opportunity protections require quarterly notices and reports to safeguard remaining public shareholders after delisting. The Manager to the offer, in coordination with the acquirer, must protect remaining public shareholders by publishing quarterly advertisements inviting them to avail a one-year exit opportunity after delisting, sending quarterly follow-up communications, and filing a quarterly progress report with the stock exchange(s) disclosing numbers of remaining shareholders and details of those who availed the exit opportunity; stock exchange(s) shall monitor compliance.
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.
Exit opportunity protections require quarterly notices and reports to safeguard remaining public shareholders after delisting.
The Manager to the offer, in coordination with the acquirer, must protect remaining public shareholders by publishing quarterly advertisements inviting them to avail a one-year exit opportunity after delisting, sending quarterly follow-up communications, and filing a quarterly progress report with the stock exchange(s) disclosing numbers of remaining shareholders and details of those who availed the exit opportunity; stock exchange(s) shall monitor compliance.
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