February 13, 2008
N O T I C E
Trading Members of the Exchange are hereby informed that Securities And
Exchange Board of India (SEBI) vide its Notification dated 24th
September, 2007 in the Gazette of India Extraordinary notified ‘Appointed Date’
for The Calcutta Stock Exchange Association Limited as 28th August,
2007. This Notification signifies achieving demutualisation i.e., atleast 51%
of the equity share capital of the Exchange is held by public.
In view of the above steps have been taken to lift the freeze on the
ISIN INE 510101013 of the equity shares by obtaining clearance from CDSL and
defreezing is under process in NSDL
Further as per Clause-8.3 of
The Calcutta Stock Exchange Association Limited (Demutualisation) Scheme, 2005
read with the provisions as contained in SEBI’s Notification of Securities
Contracts (Regulation) (Manner of Increasing and Maintaining Public
Shareholding in Recognised Stock Exchanges) Regulations, 2006 dated 13th
November, 2006, the Stock Exchange shall monitor and ensure that alteast 51% of
its equity share capital is continuously held by the Public. Under the said
Regulations no person either individually or together with persons acting in
concert with him, acquire and/or hold more than 1% of the paid-up equity
capital of the Exchange unless he is a fit and proper person and has taken
prior approval of SEBI. Further, no person shall directly or indirectly acquire
or hold more than 5% of the paid-up equity capital of the Exchange.
In order to adhere to the conditions stipulated under the Scheme and
the relevant SEBI Regulations, it is hereby informed that any trading member or
an ‘Associate’ of such trading member (as defined under the SEBI Regulations)
desirous of buying/acquiring securities of the Calcutta Stock Exchange
Association Limited (upon lifting of the freeze on the ISIN) is advised to
obtain prior approval of the Exchange by addressing a letter to the Secretary,
The Calcutta Stock Exchange Association Limited, 7, Lyons Range, Kolkata-700
001 mentioning therein the existing number of shares held by the trading member
and its Associates and the number of shares proposed to be
acquired/bought/transferred by the Trading Members and its Associates.
(P.
K. Ray)
Secretary