February 13, 2008




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)