27th March 2017
NOTICE
Sub: Schemes of Arrangement by
listed entities and (ii) relaxation under Sub-Rule (7) of Rule 19 of the
Securities Contracts (Regulation) Rules, 1957
To all Listed companies
Attention
of such aforesaid listed companies are drawn to SEBI Circular Ref. No. CFD/DIL3/CIR/2017/26 dated March 23,
2017 (copy available at CSE web-site at www.cse-india.com and SEBI web-site at www.sebi.com) wherein
As per point no. 2 of the
aforesaid SEBI Circular “Para 8 of the aforesaid circular provides that the pricing
provisions of Chapter VII of SEBI (Issue of Capital and
Disclosure Requirements) Regulations, 2009 shall be followed in case of issuance
of shares to
a select group
of shareholders or shareholders of unlisted companies
pursuant to such schemes. It is now clarified that the ‘relevant date’ for the
purpose of computing pricing shall be the date of Board meeting in which the
scheme is approved”.
This is for information &
necessary action.
CS
Chandrani Datta
Executive-Listing