Please find below the checklist of Listed company:-
1Hold BM and take the following decisions:
1.a.) Take decision to make pref. allotment;
1.b) Fix the date, time, and place of holding Shareholder’s meeting to approve the decisions of pre. Allot and to pass resolution u/s 81(1A) of CA;
2.The Stock Exchange should be informed about the outcome of the BM;
3. Issue notice of the Shareholder’s meeting should be issued to the shareholders;
4. Hold the Shareholder’s meeting and pass the resolution;
5. The explanatory statement of the notice of the General Meeting should contain the items as per Clause13.1A of SEBI(DIP) Guidelines, which are as follows:
5.a) the explanatory statement should mention the object of the issue, intention of the promoters/directors/KMP to subscribe, tentative Shareholding pattern before and after the issue , proposed time limit within which the allotment should be made, identity of the proposed alottee etc.;
6.The listed company should comply with the condition of continous listing ;
7.The price should be determined as per clause 188.8.131.52 o the SEBI(DIP) Guidelines;
8. Application should be made to the Stock Exchange for ‘In-Principle’ approval;
9.Hold BM and allot Pref. Shares after getting the ‘In-principle’ approval’ from Stock Exchange.
10.Apply to the stock exchange for listing of and trading approval of Pref. Issue.
CS Siddhartha Banik