Dear All,
Need ur views on the following:
RPL is a public Company listed on Pune Stock Exchange. Although the shares are listed, they are not traded. Also, as it is a regional stock exchange, the Company is facing problems in finding brokers. The following is the shareholding pattern of promoter group:
|
Sr. no. |
Name of the shareholders |
% of holding |
Dematerialised |
|
1. |
Shares held by ‘C’ family |
24.69 |
Physical |
|
2. |
Shares held by ‘D’ family |
22.73 |
Demat form |
|
3. |
Shares held by ‘V’ family |
23.82 |
Physical |
|
Total promoter shareholding |
|
- |
|
|
4.
|
Shares held by ‘S’ family (non promoter) |
3.31 |
Demat form |
|
Total |
74.55 |
- |
|
The promoters want to sell their shares to any other promoter within the promoter group.
1. If one of the promoter (holding shares in physical form) wants to sell shares to the other promoter (holding shares in demat form), whether the same can be done through off market sale rather than on floor of exchange?
2. If both the promoters who are holding shares in demat form enter into sale transaction, whether the same can be done via off market sale?
3. If yes, at what price can the said sale transaction take place? (Shares are not traded, hence market price cannot be ascertained?)
4. If ‘D’ family sells its shares, ‘S’ family will also sale its stake. Both the families are holding shares in demat form. Therefore, can non promoter sell shares to promoter in an off market transaction?
CAclubindia
