Mention the time within which Public Announcement is required to be made to the Stock Exchange under the following circumstances: (v) Increase in voting rights pursuant to a buy-back not qualifying for exemption under Re

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: (v) Increase in voting rights pursuant to a buy-back not qualifying for exemption under Regulation 10 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

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 (v) Increase in voting rights pursuant to a buy-back not qualifying for exemption under Regulation 10 13(2)(h) No later than 90th day from the date of closure of the buyback offer by the target company.

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

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