SEBI vide Notification No. SEBI/LAD-NRO/GN/2015-16/30 dated 12/01/2016 issued the SEBI (Delisting of Equity Shares) (Amendment) Regulations, 2016 where by it substituted to Regulation 27(1) (b) & 27 (3) (c).
The Amendment text of the said Regulation 27 is reproduced hereunder:
Regulation 27: Special provisions in case of small companies:
(I) “(1) (b) the number of equity shares of the company traded on each such recognized stock exchange during the twelve calendar months immediately preceding the date of board meeting referred to in sub-regulation (1B) of regulation 8 is less than ten
per cent of the total number of shares of such company:
Provided that where the share capital of a particular class of shares of the company is not identical throughout such period, the weighted average of the shares of such class shall represent the total number of shares of such class of shares of the company; and”
(II) “(3) (b) the exit price offered to the public shareholders shall not be less than the floor price determined in terms of sub-regulation (2) of regulation 15 of these regulations read with clause (e) of sub-regulation (2) of regulation 8 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;”
To Link to the said SEBI (Delisting of Equity Shares) (Amendment) Regulations, 2016 is given herein below: SEBI (Delisting of Equity Shares Amendments) Regulations, 2016 dated 22.01.16