RegAlert2013-12-14
Added · Updated
Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2008
These Regulations establish detailed procedures for substantial acquisitions of voting shares and takeovers of listed companies in Pakistan, including mandatory disclosure timelines, public announcement requirements, and offer pricing mechanisms. They mandate that acquirers make public announcements of intention within specific timeframes and set minimum offer prices based on historical trading data or net asset values. The rules further define the acceptance period, book closure procedures, payment modes, and security deposit requirements, imposing fines of up to thirty million rupees for false disclosures or deceptive announcements.
SECP published 3 documents in the last 30 days — get each new one by email the day it lands.
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN NOTIFICATION Islamabad, 29th August , 2008. S. R. O. No.906(I)/2008. - * In exercise of powers conferred by Section 29A of the Listed Companies (Substantial Acquisition of Voting Shares and Take-Overs) Ordinance, 2002 (CIII of 2002), the Securities and Exchange Commission of Pakistan in order to carry out the purposes of the Listed Companies (Substantial Acquisition of Voting Shares and Take-Overs) Ordinance, 2002 and incidental and connected matters, hereby makes the following Regulations.
Chapter I
Preliminary
- Short title and commencement. – (1) These Regulations shall be called the Listed
Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2008. (2) They shall come into force at once. - Definitions. – (1) In these Regulations, unless there is anything repugnant in the
subject or context, –
(a) “acceptable security” means shares of KSE 30 index companies, government securities and minimum “AA” rated TFCs of listed companies; (b) “acceptance period” means the period commencing on the fifty-fourth day of the public announcement of offer and closing with the close of the public offer which shall not be later than the sixtieth day from the date of the public announcement of offer;
Read the rest free, and get an email when SECP publishes again
Lineage: In force
Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
More like this from SECP
SECP published 3 documents in the last 30 days. We email you each new one the day it's published.