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Checklist for Preferential Allotment of Shares

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Checklist for Preferential Allotment of Shares

Postby vandana chablani » Thu Sep 24, 2009 3:49 pm

Hi,

Can you please provide with a a complelet checklist for issue of shares by Preferential Allotment.
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Re: Checklist for Preferential Allotment of Shares

Postby taruunjindal » Thu Sep 24, 2009 7:24 pm

Kindly give me your e-mail Id, I will forward the same to u.

Regards,

Tarun Jindal
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Re: Checklist for Preferential Allotment of Shares

Postby sbanik_cs » Fri Sep 25, 2009 10:44 am

Hi,

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 13.1.1.1 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.

Thanks,

CS Siddhartha Banik
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