Buyback reservation for small shareholders introduced; procedural timelines and expanded disclosure obligations tightened for buybacks. Amendments add definitions for small shareholder and working day, require filing of board resolutions within two working days, reserve a portion of buybacks for small shareholders with reserved and general categories and entitlement-based acceptance, and tighten timelines: public announcements and filings within two working days, dispatch of letter of offer within five working days of Board comments, offer periods and a seven-working-day deadline for verification and payment. Revised Schedules consolidate expanded disclosure requirements for public announcements and letters of offer, including board, financial, market and promoter-related information.
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Buyback reservation for small shareholders introduced; procedural timelines and expanded disclosure obligations tightened for buybacks.
Amendments add definitions for small shareholder and working day, require filing of board resolutions within two working days, reserve a portion of buybacks for small shareholders with reserved and general categories and entitlement-based acceptance, and tighten timelines: public announcements and filings within two working days, dispatch of letter of offer within five working days of Board comments, offer periods and a seven-working-day deadline for verification and payment. Revised Schedules consolidate expanded disclosure requirements for public announcements and letters of offer, including board, financial, market and promoter-related information.
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