Sast reg 2011
This query is : Resolved
21 July 2012
Acquirer can acquire upto 5% of shares or voting rights in any financial year without making public announcement for open offer.
Now, how 5% should be calculated? Shall we take into account invoke, acquisition (Buy) and Sell or only acquisition(Buy)?
Acquirer can acquire upto 5% of shares or voting rights in any financial year without making public announcement for open offer.
Now, how 5% should be calculated? Shall we take into account invoke, acquisition (Buy) and Sell or only acquisition(Buy)?
Ajay Mishra
(Expert)
22 July 2012
Hi
It means your buying during the financial year can not exceed 5% either singly or taken together.
For example, if you hold 22% during the last financial year and you want to take further shares then you can only take 5% of the paid up capital of target co. during the year.
It means your buying during the financial year can not exceed 5% either singly or taken together.
For example, if you hold 22% during the last financial year and you want to take further shares then you can only take 5% of the paid up capital of target co. during the year.
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