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TMI BlogAmendments to the SEBI (Disclosure and Investor Protection) Guidelines, 2000X X X X Extracts X X X X X X X X Extracts X X X X ..... nt Committee on Stock Market Scam and matters relating thereto , has made certain recommendations for strengthening the quality and authenticity of the disclosures in the offer document. Also, the Committee set up by SEBI under the chairmanship of Shri. Y.H. Malegam ( Malegam Committee) to consider the disclosure norms in respect of the issues has recommended modifications to the lock-in requirements specified in SEBI (DIP) Guidelines 2000. The SEBI Board, after considering the recommendations made by JPC and by the Malegam committee, has approved certain modifications to the captioned Guidelines. Accordingly, the amendments to the guidelines have been made under Section 11(1) of the SEBI Act, 1992. The amendments are enclosed. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... continuation of lock-in in the hands of transferees for the remaining period and compliance of Securities and Exchange Board of India (Substantial Acquisition of shares and Takeovers) Regulations, 1997, as applicable. Chapter VI Contents of Offer Document 1. In Clause 6.1, a new sub-clause 6.1.2 shall be inserted as following: 6.1.2 The draft offer document and final offer document shall be approved by the Board of Directors of the issuer company and signed by all the Directors (including the Managing Director), Chief Executive Officer and Chief Financial Officer of the issuer company . They shall also certify that all the disclosures made in the offer document are true and correct. 2 The existing C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assumption that the options outstanding, if any, to subscribe for additional capital will be exercised. 3. The existing Clause 6.27(i) shall be substituted by the followings: 6.27(i) Following information shall be disclosed for all issues irrespective of the issue price. 1. Earnings per share i.e. EPS pre-issue for the last three years (as adjusted for changes in capital); 2. P/E pre-issue 3. average return on net worth in the last three years 4. minimum return on increased net worth required to maintain pre-issue EPS; 5. Net Asset Value per share based on last balance sheet; 6. Net Asset Value per share after issu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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