Hello,
Following the extract of ammended regulation 29 (2) of SAST ,2011
(v) in regulation 29, sub-regulation (2), shall be substituted with following, namely-
"Any person, who together with persons acting in concert with him, holds shares or
voting rights entitling them to five per cent or more of the shares or voting rights in
a target company, shall disclose the number of shares or voting rights held and
change in shareholding or voting rights, even if such change results in shareholding
falling below five per cent, if there has been change in such holdings from the last
disclosure made under sub-regulation (1) or under this sub-regulation; and such
change exceeds two per cent of total shareholding or voting rights in the target
company, in such form as may be specified."
My query is
1) Is this applicable only when the shareholding either increases or decreases 2 % and more , forperson along with pac holding more than 5 % ?? ( 2 % is the critieria ??)
2) e.g if person holding along with pac is 5 % and now decrease transaction of 1.83 %??still this is applicable?
please suggest
CAclubindia
