STANDARD
FORMAT OF APPLICATION UNDER REGUALTION 4 OF SEBI (SUBSTANTIAL ACQUISITION OF
SHARES AND TAKEOVERS) REGULATIONS 1997
Note
- The
Application should be made by the acquirer either himself or with any
persons acting in concert with acquirer (PACs)(hereinafter
referred as "acquirer"). If it is made by a person other than
the acquirer, the letter of authority granted by the acquirer,
must be attached with the application. Letters of authority from each of the persons
acting in concert must be attached
with the application. The
authority for appearance for personal hearing with SEBI Chairman, if
required, may also be obtained and attached.
- The
application must be supported by a duly sworn affidavit of the applicant
confirming that the details stated in the application are true and
correct.
- If
the acquirer is a body corporate, a true copy of the resolution of its
Board of Directors or the Governing Body authorizing making of the
application and sanctioning the investment in acquisition of shares /
voting rights under reference, must be attached with the application.
- The
application should be complete in all respects and only complete
application would be processed.
- Six
copies of the complete application (including enclosures) should be
submitted.
- All
the information given in the application should be as of the date of
application unless otherwise specified herein.
- GENERAL DETAILS
- Date
of the application.
- Name
and address of the acquirer(s) and PACs (including telephone number,
fax, email etc.)
- If
the applicant is a person other than the acquirer, then state name,
address, etc., of the applicant and its relationship with the acquirer
and also state whether letter of authority given by the acquirer and
persons acting in concert, is enclosed.
- State
the details of the filing fees paid in respect of the application.
- State
the identity of the acquirer (including group, if any, to which it
belongs).
- If
the acquirer is a body corporate, state the following
i.
Whether true copy of the resolution authorizing the signatory and
sanctioning the investment in acquisition of shares / voting rights under
reference, is enclosed.
ii.
Brief history of acquirer company (including, inter-alia, date of incorporation, public / private /
joint sector, areas of business, date of initial public offer, offer price
etc.)
iii.
Total paid up share capital
iv.
Networth
v.
Whether it is a listed company, if so, the names of the Stock Exchanges
where it is listed.
vi.
Furnish a copy of the latest annual reports.
- State
the sources of funds out of which the proposed acquisition will be
financed.
- If
the acquirer already holds shares in the target company give the
following particulars :
i.
The type and number of shares held and the percentage thereof to the
total capital of the target company.
ii.
Whether disclosure in respect of these shares already held in the
target company has been made as required under Chapter II. The details in
this regard may be given as per the format enclosed.
9.
If any Application
was filed under regulation 4 of the captioned regulations with SEBI in the past, give details including name of target
company, pre and post acquisition shareholding, regulation triggered, exemption
granted or not, conditions for exemption granted, if any, whether the said
conditions were fulfilled etc.
10. If any report was filed under
regulation 3(4) of the captioned regulations with SEBI in the past, give
details including name of target company, pre and post acquisition
shareholding, sub-regulation of regulation 3 under which the acquisition was
made, whether the report was taken on
record by SEBI etc.
11. If any open offer was made in
terms of the Regulations in the past, give details including name of target company, pre and post acquisition shareholding and
whether offer formalities were completed.
12. If any adjudication proceedings
were initiated against the acquirers in the past by SEBI under the SEBI Act,
1992, give details of the outcome, including the penalty, if any, imposed by the adjudicating officer and
whether the same was paid.
13. If any other action was taken by
SEBI or any other authority in the past, give details thereof.
II.
DETAILS OF
THE TARGET COMPANY
- Name
and address of the target company (include phone, fax, email etc )
- Brief
history of the target company stating inter alia, date of incorporation, place of
registered office public sector / joint sector, main business activity,
date of initial public offer, offer price etc.)
- Details
of Board of Directors stating the total number of directors, their names
and status namely whether Executive Director, Promoter Director, Nominee
Director and Independent director
- Details
of share capital of the target company.
i.
No. of equity shares issued / subscribed and paid up and face value of
each equity share.
ii.
No. of preference shares issued, subscribed and paid up and face value
of each preference share.
iii.
Whether all equity shares have uniform voting rights, if not, then the
details of voting rights attached to equity shares.
iv.
Total paid up Equity Share Capital (number of shares x face value),
showing separately, calls in arrears, if any.
v.
Total paid up Preference share Capital (number of shares x face value), showing separately calls in arrears, if any.
5. State the following
financial parameters of the target company for the immediately preceding
financial year
i.
Networth Rs……….
ii.
Book value per equity share - Rs.
iii.
Return on Networth
%
iv.
Earnings per share Rs.
Enclose a copy of the latest Balance Sheet /
Annual Report of the company.
- Name
of Stock Exchanges where shares of Target company
are listed / permitted to trade.
- Indicate
opening and closing prices of its shares as on a date prior to the date
of the application.
- Clarify whether the
shares of the target company are frequently or infrequently traded in
terms of Explanation (i)
to Reg. 20 (5) of the captioned Regulations, taking the date of
application as the reference date.
9.
Calculate and indicate the minimum offer price of the shares of the
target company, in accordance with Regulation 20 (taking date of application
as the reference date) considering
all the parameters laid down under Regulation/s 20(4) or 20(5), as may be
applicable (depending upon the frequency status of the shares of the target
company).
10.
Any open offer made
under the Regulations in the past to the shareholders of the target
company. If yes, give details of the
acquirer, duration of offer, pre and post offer holding of acquirers.
III. DETAILS OF THE PROPOSED
ACQUISITION
- Whether
it is acquisition of control of the target company, if so, the manner
and relevant details of such acquisition of control inter- alia details like nature
of approvals required for such acquisition , status of such approvals
whether obtained or not etc.
- Whether
it is acquisition of shares / voting rights, if so the manner and mode
of acquisition i.e. by purchase or otherwise. Enclose relevant documents
like the copy of the Board Resolution for allotment of shares.
- Total equity share capital / voting rights
of the target company before and after the proposed acquisition.
- Number
and details of shares of the target company proposed to be acquired and
the voting rights attached thereto.
- Percentage
of Equity shares / voting rights proposed to be acquired, to the total
subscribed and paid up share capital/total voting rights of the target
company. The
total paid up capital after the proposed acquisition, in case of change,
if any, may be used as the denominator.
- Acquisition
price to be paid per share of the shares proposed to be acquired.
- Names
and address of parties from whom the above shares are proposed to be
acquired.
- Shareholding
pattern of the target company before and after the proposed acquisition
in the following format.
Shareholders’
category
|
Number of
registered shareholders as on date of application
|
Before the
proposed acquisition
|
After the
proposed acquisition
|
|
|
Number
of shares/ total voting rights held
|
%
of shares/ total voting capital held
|
Number
of shares/ voting rights
|
%
of shares/ voting rights
|
Promoter group
|
|
|
|
|
|
Acquirers
|
|
|
|
|
|
FIs/ Banks
|
|
|
|
|
|
FIIs/ NRIs/
OCBs
|
|
|
|
|
|
Public
|
|
|
|
|
|
Total
|
|
|
|
|
|
- DETAILS OF THE EXEMPTION
SOUGHT
- Nature and details of the
exemption sought (including reference to the relevant regulation from
which exemption is sought viz
10,11(1),11(2) or 12)
- Grounds for seeking such exemption .
V.
OTHER DETAILS ,
IF ANY
Any other
material information, which the applicant may like to furnish
, having a bearing on the subject matter including any litigation.
Name
Place
Date
Documents to be enclosed, as may be applicable
1.
Letter of Authority [Point I.3]
2.
Certified copy of Resolution [Point I.6(i)]
3.
Demand Draft for Rs.
1,00,000/- [Point I.4]
4.
Copy of Annual Report of Acquirer [Point I.6(vi)]
5.
Copy of Annual Report of Target Company [Point
II.5]
6.
Affidavit [Regulation 4(2)]
|