Delisting notice requirements now mandate public disclosure of fair value determined by exchange-appointed experts under amended guidelines. Stock exchanges may delist securities after considering representations from aggrieved persons and, upon delisting, must give wide public notice through newspapers and exchange notice boards/trading systems that disclose the fair value of the security. Fair value must be determined by persons appointed by the exchange from a panel of experts selected by the exchange, having regard to factors set out in the takeover regulations. A prior procedural clause has been omitted to streamline the delisting process.
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Provisions expressly mentioned in the judgment/order text.
Delisting notice requirements now mandate public disclosure of fair value determined by exchange-appointed experts under amended guidelines.
Stock exchanges may delist securities after considering representations from aggrieved persons and, upon delisting, must give wide public notice through newspapers and exchange notice boards/trading systems that disclose the fair value of the security. Fair value must be determined by persons appointed by the exchange from a panel of experts selected by the exchange, having regard to factors set out in the takeover regulations. A prior procedural clause has been omitted to streamline the delisting process.
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