https://www.taxtmi.com/acts?id=36161 Regulation 23 requires the board of the target company during an offer period to refrain from disposing of non ordinary course assets, issuing authorised but unissued voting securities, or entering material contracts (subject to limited conversion and filed public/rights issue exceptions); to provide acquirers with lists of eligible security holders and pending transfers; to avoid appointing or allowing participation by persons representing the acquirer until merchant banker certification; to facilitate verification of tendered securities; to issue unbiased recommendations subject to fiduciary liability; and, upon certification, to transfer securities and allow board changes conferring representation or control, with specified exceptions for government sales of PSUs. en-us Sat, 02 Mar 2019 18:57:39 +0530 Mon, 04 Mar 2019 18:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=36161 Regulation 23 requires the board of the target company during an offer period to refrain from disposing of non ordinary course assets, issuing authorised but unissued voting securities, or entering material contracts (subject to limited conversion and filed public/rights issue exceptions); to provide acquirers with lists of eligible security holders and pending transfers; to avoid appointing or allowing participation by persons representing the acquirer until merchant banker certification; to facilitate verification of tendered securities; to issue unbiased recommendations subject to fiduciary liability; and, upon certification, to transfer securities and allow board changes conferring representation or control, with specified exceptions for government sales of PSUs. Act-Rules SEBI Sat, 02 Mar 2019 18:57:39 +0530 https://www.taxtmi.com/acts?id=36161