Mention the time within which Public Announcement is required to be made to the Stock Exchange under the following circumstances: (iii) Agreement to acquire shares or voting rights or control over the Target Company.

CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · December 2019
Mention the time within which Public Announcement is required to be made to the Stock Exchange under the following circumstances: (iii) Agreement to acquire shares or voting rights or control over the Target Company.

Answer & Explanation:

The Public Announcement made under Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, shall be sent to all the stock exchanges on which the shares of the target company are listed. Further, a copy of the same shall also be sent to the Board and to the target company at its registered office within one working day of the date of the public announcement. The time within which the Public Announcement is required to be made to the Stock Exchanges under different circumstances is tabulated below: Particulars Applicable Regulation under SEBI (SAST) Regulation, 2011 Time of making Public Announcement to Stock Exchange (iii) Agreement to Acquire Shares or voting Rights or Control over the Target Company. 13(1) On the date of agreeing to acquire share, voting rights or control over the target company.

Topics: SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

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