As per Reg 3-Notwithstanding anything contained in this regulation, an unpublished price sensitive information may be communicated, provided, allowed access to or procured, in connection with a transaction that would:– (i)entail an obligation to make an open offer under the takeover regulations where the board of directors of the 12[listed] company is of informed opinion that [sharing of such information]is in the best interests of the company; NOTE:It is intended to acknowledge the necessity of communicating, providing, allowing access to or procuring UPSI for substantial transactions such as takeovers,mergers and acquisitions involving trading in securities and change of control to assess a potential investment. In an open offer under the takeover regulations, not only would the same price be made available to all shareholders of the company but also all information necessary to enable an informed divestment or retention decision by the public shareholders is required to be made available to all shareholders in the letter of offer under those regulations. (ii)not attract the obligation to make an open offer under the takeover regulations but where the board of directors of the [listed] company is of informed opinion [that sharing of such information]is in the best interests of the company and the information that constitute unpublished price sensitive information is disseminated to be made generally available at least two trading days prior to the proposed transaction being effected in such form as the board of directors may determine16[to be adequate and fair to cover all relevant and material facts]. NOTE:It is intended to permit communicating, providing, allowing access to or procuring UPSI also in transactions that do not entail an open offer obligation under the takeover regulations 17[when authorized by the board of directors if sharing of such information]is in the best interests of the company. The board of directors, however, would cause public disclosures of such unpublished price sensitive information well before the proposed transaction to rule out any information asymmetry in the market.
In an orchard, the ratio of the number of mango and lichi trees is 4:7, respectively. Also, there are few apple trees in the orchard which is 50% more t...
If D and E are the mid points of AB and AC respectively of ∆ ABC, then the ratio of the areas of ADE and BCED is ?
The ratio of Ankita and Sakshi 's ages will be 9:5 after 16 years. Currently, Ankita's present age is 180% more than Sakshi 's age four years ago. What ...
Ratio between marked price of article A to article B is 5:6. Shopkeeper allowed d% discount on article ‘A’ and (d + 16)% discount on article ‘B’...
A boy is supposed to distribute Rs.2400 among his three friends P, Q and R in the ratio of 5:3:4 respectively, but mistakenly he distributed in the rati...
A school has 600 students. The ratio of boys to girls is 3:2. If 40 new boys join the school, what will be the new ratio of boys to girls in the school?
A sum of Rs 31866 is divided between A, B and C such that the ratio of shares of A and B is 9:8 and that of A and C is 4:5. The share (in RS) of B is:
A boy is supposed to distribute Rs.4400 among his three friends P, Q and R in the ratio of 4:2:5 respectively, but mistakenly he distributed in the rati...
The speeds of two trains are in the ratio 7:9. If the first train travels 315 km in 3 hours, how far will the second train travel in 5 hours?
120 cookies were distributed among 20 students in a class such that each boy gets 8 cookies and each girl gets 4 cookies. Find the number of boys in the...