Insertion of new proviso after the existing proviso in regulation 17(1) & (3), in case of indirect acquisition where public announcement has been made in terms of regulation 13(2)(e):
– 100% of the consideration payable in the open offer shall be deposited in escrow account; and
– Deposit of securities shall not be permitted.
Insertion of sub-regulation (11A) in regulation 18(11): procedure including interest payment state, in case acquirer is unable to make payment to the shareholders who have accepted the open offer within specified period.
Effective date: July 01, 2020