Securities And Exchange Board of India (Substantial Acquisition of Shares And Takeovers) Amendment Regulations, 1998. - S.O. No.930(E) - SEBI/LE/1437/98 - SEBI
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Takeover thresholds revised, increasing trigger levels and imposing a prohibition on acquisitions in final week before offer closure. Amendments raise the percentage thresholds that trigger disclosure and open-offer obligations, expand the entry band for significant acquisitions under regulation 11, and increase the incremental trigger for aggregation of voting rights. The amendment bars acquirers who, with persons acting in concert, have reached the dominant shareholding ceiling from further acquisitions unless a public offer is made, and inserts a proviso prohibiting acquisitions during the last seven working days prior to offer closure. Disclosure references are adjusted to align with these timing and acquisition provisions.
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.
Takeover thresholds revised, increasing trigger levels and imposing a prohibition on acquisitions in final week before offer closure.
Amendments raise the percentage thresholds that trigger disclosure and open-offer obligations, expand the entry band for significant acquisitions under regulation 11, and increase the incremental trigger for aggregation of voting rights. The amendment bars acquirers who, with persons acting in concert, have reached the dominant shareholding ceiling from further acquisitions unless a public offer is made, and inserts a proviso prohibiting acquisitions during the last seven working days prior to offer closure. Disclosure references are adjusted to align with these timing and acquisition provisions.
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