Baader Bank Aktiengesellschaft
Penalties and directions recorded
- Promoters/associates/family members restrained from tendering shares in open offer
- Promoters, associates and family members restrained from tendering shares in such open offer
SAT-appeal
- Acquirers individually/collectively crossed 15% voting rights in Parsoli Corporation Ltd on 24 July 2006 and failed to make mandatory open offer under Reg 10 r/w 14(1).Make public announcement to acquire shares per Takeover Regulations 1997 within 45 days of WTM order · Pay offer consideration with 10% p.a. interest from 30 Oct 2006 to payment (adjusted for dividend)
- Failure to make separate public announcements of open offer under Regulation 10 r/w 14(1) of Takeover Regulations 1997 after individually and collectively crossing 15% in Parsoli Corporation Ltd via preferential allotments on 24 July 2006.WTM directed appellants to make public announcement to acquire shares per Takeover Regulations 1997 within 45 days from order · Pay consideration with interest @10% p.a. from 30 October 2006 to date of payment after adjusting dividend, if any
Source: SecMarx — Baader Bank Aktiengesellschaft. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.