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
Manager to the offer obligations require verified acquirer capability, verifiable funds, full disclosures and prohibition on dealing during delisting process. The Manager to the offer must verify that the acquirer can implement the delisting and has firm, verifiable fund arrangements; ensure that all public disclosures and the letter of offer are complete, true, fair and adequate based on reliable sources; confirm that engaged market intermediaries are registered; exercise due diligence, care and professional judgment to secure regulatory compliance; prevent the Manager and its associates from dealing in the company's shares from appointment until conclusion; and ensure the acquirer complies with the delisting regulations.
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.
Manager to the offer obligations require verified acquirer capability, verifiable funds, full disclosures and prohibition on dealing during delisting process.
The Manager to the offer must verify that the acquirer can implement the delisting and has firm, verifiable fund arrangements; ensure that all public disclosures and the letter of offer are complete, true, fair and adequate based on reliable sources; confirm that engaged market intermediaries are registered; exercise due diligence, care and professional judgment to secure regulatory compliance; prevent the Manager and its associates from dealing in the company's shares from appointment until conclusion; and ensure the acquirer complies with the delisting regulations.
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