On 7 March 2022, IND SEBI updated on the system-driven disclosures. IND SEBI updated on automation of disclosure requirements under SEBI (substantial acquisition of shares and takeovers) regulations, 2011- system-driven disclosures. Encumbered Shares To streamline capture and dissemination of the information related to encumbrances and thus bring in more transparency, SEBI has consulted with the […]

On 19 January 2022, BHR CB issued amended takeovers, mergers, acquisitions module. Applicable to conventional banks, Islamic banks, insurance, investment business, specialized licenses, capital markets; amended TMA module is effective immediately.  

On 17 November 2021, BHR CB proposed to amend take-overs, mergers module. BHR CB proposed amendments to take-overs, mergers and acquisitions (TMA) module. Revised provisions relate to independent advice, issuance of documents, settlement of consideration and share transfer, restrictions on dealings before and during offer. As well as offer timetable, compulsory acquisitions and delisting, among […]

On 13 August 2021, IND SEBI issued SEBI (substantial acquisition of shares and takeovers) (second amendment) regulations, 2021, effective from 1 April 2022.

On 6 August 2021, IND SEBI board said it has decided to do away with certain disclosure obligations for the acquirers/promoters pertaining to acquisition or disposal. This is acquisition or disposal of shares aggregating to 5% and change of 2% after, annual shareholding disclosures and creation/invocation/release of encumbrance registered in depository systems under takeover regulations […]

On 17 June 2021, the Enforcement Committee fined Consellior SAS €80,000 for filing late reporting of its disposals of Baccarat shares and for a late declaration of a change in intention regarding the tender of its shares to the ongoing bid. Baccarat was the target of a public takeover bid at the time. Consellior SAS […]