Regulatory Alerts2014-05-29
Added · Updated
Communiqué on Merger and Demerger Transactions Involving Publicly Held Corporations
The Capital Markets Board issued this Communiqué to regulate the procedures and principles for merger and demerger transactions involving at least one publicly held corporation. It mandates Board approval for announcement texts, specifies the use of audited financial statements and expert institution reports to determine fair exchange rates, and requires comprehensive public disclosure of transaction details. The document further establishes specific rules regarding shareholder protection, financial position changes, and restrictions on share sales following the completion of such transactions.
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