30th June 2017

 

NOTICE

 

Sub: Review of Offer for Sale (OFS) of Shares through Stock Exchange Mechanism

 

To all Listed companies

 

Attention of such aforesaid listed companies are drawn to SEBI Circular Ref. No. CIR/MRD/DP/65/2017 dated June 27, 2017 (copy available at CSE web-site at www.cse-india.com and SEBI web-site at www.sebi.com) wherein

 

 

Based on the representation received and in order to further streamline the process of OFS with an objective to encourage greater participation by employees, the existing provision with respect to restriction on sale of shares by promoters post OFS is modified as follows:

1.1. Promoters of eligible companies shall be permitted to sell shares within a period of 2 (two) weeks from the OFS transaction to the employees of such companies. The offer to employee shall be considered as a part of the said OFS transaction

1.2. The promoters may at their discretion offer these shares to employees at the price discovered in the said OFS transaction or at a discount to the price discovered in the said OFS transaction.

1.3. Promoters shall make necessary disclosures in the OFS notice to the exchange including number of shares offered to employees and discount offered if any.

 

 

This is for information & necessary action.

 

 

 

 

CS Chandrani Datta

Executive-Listing