Sebi disclousers
This query is : Resolved
CS KINJAL SANGANI
(Querist)
07 July 2012
Hi, Can anyone help me to make it clear that what is the difference between Regulation 18 (6) and Regulation 29 (2) of the Sebi, so what kind of disclosers are made in respect of it and to whom , Please let me have the exact details in respect of this.
CS Mitesh Mehta
(Expert)
07 July 2012
Regualtion 29(2)-
Acquirer (includes pledgee of shares other than Schedule Commercial Banks/PFIs) with PAC holding 5% and more shares shall on acquisition/disposal of 2% or more shares or voting rights shall disclose to Target Company & Stock Exchange within 2 working days of Such sale/purchase.
Regulation 18(6)-
The acquirer shall disclose during the open offer period every acquisition made by
the acquirer or PAC with him of any shares of the target company to the stock exchanges and to the target company at
its registered office within twenty-four hours of such acquisition, and the stock
exchanges shall forthwith disseminate such information to the public
Acquirer (includes pledgee of shares other than Schedule Commercial Banks/PFIs) with PAC holding 5% and more shares shall on acquisition/disposal of 2% or more shares or voting rights shall disclose to Target Company & Stock Exchange within 2 working days of Such sale/purchase.
Regulation 18(6)-
The acquirer shall disclose during the open offer period every acquisition made by
the acquirer or PAC with him of any shares of the target company to the stock exchanges and to the target company at
its registered office within twenty-four hours of such acquisition, and the stock
exchanges shall forthwith disseminate such information to the public
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