RegAlert2018-11-05
Added · Updated
SEC Division of Corporation Finance no-action letter: Mphasis Limited
The Division of Corporation Finance grants Mphasis Limited an exemption from Exchange Act Rule 14e-1(a) for its issuer tender offer, permitting the offer to remain open for a fixed period of 10 Working Days. This relief allows Mphasis Limited to comply with Indian Buy Back Regulations requiring a fixed offer duration, despite the offer involving approximately 64.98% of shares beneficially owned by U.S. residents. The order applies to the Company's proposed share buyback of up to 7,320,555 Shares at Rs. 1,350 per Share, which is structured as a single worldwide offer on equal terms to all shareholders.
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UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION
November 5, 2018
In the Matter of an Issuer Tender Offer for ORDER GRANTING EXEMPTION FROM Shares of Mphasis Limited EXCHANGE ACT RULE 14E-1(A) Mphasis Limited submitted a letter dated November 2, 2018, requesting that the Securities and Exchange Commission ("Commission") grant an exemption from Exchange Act Rule 14e-1(a) for the issuer tender offer described in its letter ("Request"). Based on the representations and the facts presented in the Request, and subject to the terms and conditions described in the letter from the Division of Corporation Finance dated November 2, 2018, it is ORDERED that the request for an exemption from Exchange Act Rule 14e-1(a) is hereby granted. For the Commission, by the Division of Corporation Finance, pursuant to delegated authority. Brent J. Fields Secretary
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Source: Securities and Exchange Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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