SHOW-CAUSE NOTICE ISSUE TO ELAHI COTTON MILLS LIMITED versus
Sections 4, 5, 25 and 26 Acquire substantial share of the company Increase the shareholding holding of the voting share of the company by 25%, the noncompliance of the commission directive information provided by the recipient and the available records It has been submitted to the Commission that the investor has increased its stake from 8% to 92% to 28 54 54% thus holding voting shares in the company has crossed the threshold of 25 25. Such action requires compliance with Section 5 of the listed companies. Shares and Occupation of Voting (Ordinance, 2002), which included disclosure of the target company. And on the stock exchange. In addition to making the offer public, it was not made in this case as the listed companies did not follow the instructions of the Commission under the Ordinance 2002, section 25 (acquisition of voting and substantial acquisition). had gone. By violating Section 26 of the Ordinance, the ordinance was intended to provide a fair and equitable system of fair and equitable treatment to all investors and to achieve a fair share of voting. And the control of the listed companies failed to comply with any of the provisions of the Ordinance Ordinance in the present case, giving the Commission wide powers to issue instructions and to impose penalties on the recipient, in fulfillment of the Ordinance clause. Will fail. However, it cannot be neglected in deciding the breach case, since the inception of the company, effective control of the target company was always entrusted to the acquirers and their sponsors, and given the circumstances of the case, Section 5 (5) of section 5 of the Ordinance
Related judgments — Securities and Exchange Commission of Pakistan, 2011
