Timing

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..... e target company. (2) Such public announcement,- (a) in the case of market purchases, shall be made prior to placement of the purchase order with the stock broker to acquire the shares, that would take the entitlement to voting rights beyond the stipulated thresholds; (b) pursuant to an acquirer acquiring shares or voting rights in, or control over the target company upon converting convertible .....

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..... tion of shares or voting rights in, or control over the target company where none of the parameters referred to in sub-regulation (2) of regulation 5 are met, may be made at any time within four working days from the earlier of, the date on which the primary acquisition is contracted, and the date on which the intention or the decision to make the primary acquisition is announced in the public dom .....

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..... 10, shall be made not later than the ninetieth day from the date of 2[closure of the buy-back offer by the target company].; (i) the public announcement pursuant to any acquisition of shares or voting rights in or control over the target company where the specific date on which title to such shares, voting rights or control is acquired is beyond the control of the acquirer, shall be made not late .....

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..... made on the same day as the date on which the acquirer takes the decision to voluntarily make a public announcement of an open offer for acquiring shares of the target company. (4) Pursuant to the public announcement made under sub-regulation (1) and sub-regulation (3), a detailed public statement shall be published by the acquirer through the manager to the open offer in accordance with regulat .....

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..... 1 Substituted for "special resolution is passed for allotment of shares under sub-section (1A) of section 81 of the Companies Act, 1956" by the SEBI(Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2013, w.e.f. 26-03-2013. 2 Substituted for "such increase in the voting rights beyond the relevant threshold stipulated in regulation 3" by the SEBI(Substantial Acquisition .....

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