Amendment to the Equity Listing Agreement – Feb 8, 2012
SEBI Circular – February 8, 2012:
This note is based on the SEBI circular no. CIR/CFD/DIL/1/2012 dated February 08, 2012.
Applicability:
It is applicable to all Listed Companies with immediate effect. This amendment forms part of the existing Listing Agreement of the Stock Exchange.
Highlights of the Amendments:
a. Amendment to Clause 40A
Clause 40 A: In addition to the existing methods which listed company can adopt to achieve minimum public shareholding, the listed company may also achieve the minimum level of public shareholding through Institutional Placement Programme (IPP) interms of Chapter VIII-A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended. Further, sale of shares by promoters through stock exchanges shall be now carried out in terms of SEBI circular CIR/MRD/DP/05/2012 dated February 1, 2012.
b. Amendment to Clause 43 & 43A
In order to enhance disclosure requirements, listed entities have been mandated to
disclose utilization of funds raised upon conversion/ exercise of warrants issued
along with public or rights issue of specified securities.
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