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
Delisting obligations require firm financial arrangements and truthful disclosures; acquirer must buy remaining shares at same price and not sell. Acquirer must have firm financial arrangements before the initial public announcement, ensure all delisting-related communications are true, fair and adequate and based on reliable sources, and accept joint and several responsibility with persons acting in concert. The acquirer must acquire remaining public shareholders' shares at the same delisting price for a minimum period of one year and neither the acquirer nor persons acting in concert may sell shares during the delisting period.
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.
Delisting obligations require firm financial arrangements and truthful disclosures; acquirer must buy remaining shares at same price and not sell.
Acquirer must have firm financial arrangements before the initial public announcement, ensure all delisting-related communications are true, fair and adequate and based on reliable sources, and accept joint and several responsibility with persons acting in concert. The acquirer must acquire remaining public shareholders' shares at the same delisting price for a minimum period of one year and neither the acquirer nor persons acting in concert may sell shares during the delisting period.
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