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Format for Public Announcement

Format of Public Announcement by the Acquirer in case of Open Offer for acquisition of Equity Shares from Shareholders of the Target Company

SEBI: Regulation 15 (1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

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This document contains editable Format of Public Announcement by the Acquirer in case of Open Offer for acquisition of Equity Shares from Shareholders of the Target Company, making it handy for use and compliance.

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Regulation 15 (1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

(1) The public announcement shall contain such information as may be specified, including the following,—

  • name and identity of the acquirer and persons acting in concert with him;
  • name and identity of the sellers, if any;
  • nature of the proposed acquisition such as purchase of shares or allotment of shares, or any other means of acquisition of shares or voting rights in, or control over the target company;
  • the consideration for the proposed acquisition that attracted the obligation to make an open offer for acquiring shares, and the price per share, if any;
  • the offer price, and mode of payment of consideration; and
  • offer size, and conditions as to minimum level of acceptances, if any.

 

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Format for public announcement under regulation 15 (1) of sebi (substantial acquisition of shares and takeovers) regulations 2011