9911796707
TMI BlogExemption application under Regulation 11 (1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011X X X X Extracts X X X X X X X X Extracts X X X X ..... per Regulation 11(3) of SAST Regulations, the acquirer shall file an application with the Board, supported by a duly sworn affidavit, giving details of the proposed acquisition and the grounds on which the exemption has been sought. 2. In order to ensure uniformity of disclosures in such applications, it has been decided to provide a standard format for filing of application with SEBI. The instructions and details in this regard are given at Annexure - A. 3. This circular shall be applicable to all the applications that are filed with SEBI after the date of this circular. 4. This circular is issued in exercise of the powers conferred under Section 11 read with Section 11A of the Securities and Exchange Board of India Act, 1992. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... [email protected] 7. All the information given in the application should be as of the date of application unless otherwise specified therein. II. General Details 1. Date of the application: 2. Name, PAN and address of the acquirer(s) and PACs (including telephone number, email etc.) 3. If the applicant is a person other than the acquirer, then state name, address, telephone number, email etc., of the applicant and state whether letter of authority given by the acquirer and persons acting in concert, is enclosed. 4. State the details of the filing fees as specified in regulation 11(4) of the SAST Regulations. 5. State whether the acquirer/ PACs are part of the promoter/ promoter group. 6. If any application was filed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls in arrears, if any. 5. Total equity share capital / voting rights of the target company before and after the proposed acquisition. State the following financial parameters of the target company for the immediately preceding financial year I. Net-worth - Rs . II. Book value per equity share - Rs. III. Return on Net-worth % IV. Earnings per share - Rs. 6. Name of Stock Exchanges where shares of Target Company are listed / permitted to trade and the date of listing. 7. Indicate opening and closing prices of its shares as on a date prior to the date of the application. 8. Clarify whether the shares of the target company are frequently or infrequently traded in terms of regulation 2(j) of SAST Regulations, taking the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Acquirers and PAC Public Total ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... igned or encumbered in any manner including by way of pledge/mortgage; iv. In case of dissolution of the Trust, the assets will be distributed only to the beneficiaries of the trust or to their legal heirs; v. The Trustees will not be entitled to transfer or delegate any of their powers to any person other than one or more of themselves. In addition, the following undertakings were part of the trust deed: vi. Any change in the trustees / beneficiaries and any change in ownership or control of shares or voting rights held by Trust shall be disclosed within 2 days to the concerned stock exchanges with a copy endorsed to SEBI for its record; vii. As far as the provisions of the SEBI Act and the regulations framed thereunder are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t contain any limitation of liability of the trustees / beneficiaries in relation to the provisions of the SEBI Act and all regulations framed thereunder. The Takeover Panel and SEBI will continue to scrutinise exemption application based on the above conditions. It is further clarified that while the above conditions / undertaking are broad and general in nature, compliance with the above conditions does not guarantee automatic exemption from open offer and all applications will be considered by the Takeover Panel and SEBI on a case to case basis. However, the processing time of applications where the above conditions are complied could be significantly faster. ---xxx--- - Circular - Trade Notice - Public Notice - Instructions - O ..... X X X X Extracts X X X X X X X X Extracts X X X X
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