sebi:WTM/PS/46/CFD/SEPT/2013
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Facts / Headnote
Directions issued vide interim order dated June 04, 2013 against the company, Fairfield Atlas Limited, its directors, promoters and promoter group revoked with immediate effect; no further action under paragraph 18 of interim order initiated.
Provisions invoked
- s. 19
- s. 12A
Regulations
- Reg. 18(1)
- Reg. 21
- Reg. 18(i)
Parties
- Fairfield Atlas Limited
- Directors of Fairfield Atlas Limited
- Promoters and promoter group of Fairfield Atlas Limited
- T-H Licensing Inc.
Holding
The directions issued vide the interim order dated June 04, 2013 against Fairfield Atlas Limited, its directors, promoters and promoter group are revoked with immediate effect. The promoter, T-H Licensing Inc., is enabled to accept shares tendered by remaining public shareholders during the exit period and to make payment therefor.
Full text
Page 2 of 5 shares validly tendered by the public shareholders at or below the exit price. The Company also stated that it has made an application to BSE for seeking final approval to delist the equity shares.
Page 3 of 5 all the equity shares which were not accepted were returned to the respective public shareholders ; (iv) the Company and its promoter have taken all necessary steps in order to delist the equity shares of the Company from BSE in an efficient and timely manner, and that there are no further steps that the Company need to undertake in order to comply with the MPS requirement ; and (v) the Company had not jeopardised the interest of its investors in the entire delisting process.
Page 4 of 5 The promoter accepted the exit price of 245/- and also made a post offer public announcement on June 01, 2013, in terms of regulation 18(i) of the Delisting Regulations.
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Source: SecMarx — sebi:WTM/PS/46/CFD/SEPT/2013. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.