Explain the relevant SEBI Regulation regarding prior intimations to Stock Exchanges, which are required for Board Meetings, where certain proposals, e.g. financial results and fund raising, are to be considered.
CS Professional · Corporate Funding & Listings in Stock Exchanges · PYQS · December 2019
Explain the relevant SEBI Regulation regarding prior intimations to Stock Exchanges, which are required for Board Meetings, where certain proposals, e.g. financial results and fund raising, are to be considered.
Answer & Explanation:
Provisions related to prior intimation of Board Meeting where any of the following proposals is to be considered are included in Regulation 29 of SEBI (LODR) Regulations, 2015 are: At least 5 clear Days (excluding the date of the intimation and date of the meeting): financial results viz. quarterly, half yearly, or annual, (Intimation with Date of Board Meeting). At least 2 clear Working Days (excluding the date of the intimation and date of the meeting): proposal for buyback of securities proposal for voluntary delisting fund raising by way of - Further public offer Rights Issue American Depository Receipts Global Depository Receipts Foreign Currency Convertible Bonds Qualified institutions placement Debt issue Preferential issue and Determination of issue price. Any AGM or EGM or Postal Ballot proposed to be held for obtaining shareholder approval for further fund raising indicating type of issuance. Declaration/recommendation of dividend, issue of convertible securities including convertible debentures or of debentures carrying a right to subscribe to equity shares or the passing over of dividend. The proposal for declaration of bonus securities, if part of Agenda papers. At least 11 Working Days before: Any alteration in the form or nature of any of its securities or in the rights or privileges of the holders thereof. Any alteration in the date on which, the interest on debentures or bonds, or the redemption amount of redeemable shares or of debentures or bonds, shall be payable.
Topics: Listing Obligations and Disclosure Requirements
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