Exemption on Public Announcement

[Shrisha M]

Dear All,

Can Promoters get an exemption on public announcement by allotting the
company Shares through preferential allotment...Even if they crossed
the mandatory percentages to give the P.A.

Please suggest me..

Thanks & Regards
Shrisha M
Hyderabad.

[madhwesh acharya]

Dear Mr. Shrisha,

 

Please find attached few consent order from SEBI regarding exemption from public announcement in the case of preferential allotment, which i had used for one of my research.

 

In the research, i found out that SEBI has given subject exemption only in the cases involving Sick companies, allotment being made in the process of financial restructuring (especially debts) and only few cases involving expansion plans with huge capital requirements.

 

Hence, the subject exemption depends on the purpose for which you are raising money through preferential allotment and how genuine that purpose is.

 

For more info, you may visit SEBI website and download more consent orders. SEBI will give reason for granting exemption.

 

Member's views solicited.

 

 

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Regards,
Madhwesh K
Company Secretary
Bangalore
9980672126

[Shrisha M]

Thank you Mr.Madhwesh for your suggestion..

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