SEBI ASKS FIRMS TO DISCLOSE ALL SHARE PURCHASES
The Securities and Exchange Board of India (SEBI) has asked companies to disclose details of share
purchases by acquirers and Persons Acting in Concert (PAC) to include all voting rights and warrants held by the promoters and other insiders during their regulatory filings with stock exchanges. Under the new format, they (acquirers and PAC) have to provide additional disclosures about warrants and any other instrument which have voting rights, besides their disclosures regarding acquisition of shares/voting rights / and holding by them in the target company. The disclosures are mandatory. In the new format for disclosure acquirer will disclose his holdings in the target company before the acquisition under consideration, they will give details of the holdings being acquired and holding
after the acquisition.
purchases by acquirers and Persons Acting in Concert (PAC) to include all voting rights and warrants held by the promoters and other insiders during their regulatory filings with stock exchanges. Under the new format, they (acquirers and PAC) have to provide additional disclosures about warrants and any other instrument which have voting rights, besides their disclosures regarding acquisition of shares/voting rights / and holding by them in the target company. The disclosures are mandatory. In the new format for disclosure acquirer will disclose his holdings in the target company before the acquisition under consideration, they will give details of the holdings being acquired and holding
after the acquisition.
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