Draft letter of offer filing requirements broaden disclosure to extended multi year compliance and capital structure histories for acquirers. Merchant bankers must provide, in the draft letter of offer, the status of compliance with SAST Regulations and details of acquisitions by the acquirer/PAC and by promoters/promoter group, and changes in the target company's capital structure, covering the financial year of the public announcement and an extended multi year retrospective period; where a prior open offer exists in that period, disclosures commence from the expiry of that prior offer period.
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Draft letter of offer filing requirements broaden disclosure to extended multi year compliance and capital structure histories for acquirers.
Merchant bankers must provide, in the draft letter of offer, the status of compliance with SAST Regulations and details of acquisitions by the acquirer/PAC and by promoters/promoter group, and changes in the target company's capital structure, covering the financial year of the public announcement and an extended multi year retrospective period; where a prior open offer exists in that period, disclosures commence from the expiry of that prior offer period.
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