S.R.O. 906(I)/2008, Islamabad, 29th August , 2008

SROS: S.R.O. 906(I)/2008, Islamabad, 29th August , 2008 THE LISTED COMPANIES(SUBSTANTIAL ACQUISITION OF VOTING SHARES AND TAKE-OVERS) REGULATIONS, 2008. SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN NOTIFICATION Islamabad, 29th August , 2008. S.R.O. 906(I)/2008, Islamabad, 29th August , 2008:- In exercise of powers conferred by Section 29A of the Listed Companies(Substantial Acquisition of Voting Shares and Take-Overs) Ordinance, 2002(CIII of 2002), the Securities and Exchange Commission of Pakistan in order to carry out the purposes of the Listed Companies(Substantial Acquisition of Voting Shares and Take-Overs) Ordinance, 2002 and incidental and connected matters, hereby makes the following Regulations. Chapter I Preliminary 1. Short title and commencement. -(1) These Regulations shall be called the Listed Companies(Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2008. (2) They shall come into force at once. 2. Definitions. -(1) In these Regulations, unless there is anything repugnant in the subject or context, - (a) acceptable security means shares of KSE 30 index companies, government securities and minimum AA rated TFCs of listed companies; (b) acceptance period means the period commencing on the fifty-fourth day of the public announcement of offer and closing with the close of the public offer which shall not be later than the sixtieth day from the date of the public announcement of offer; (c) date of public announcement means the date on which the public announcement is published in accordance with section 9 of the Ordinance; (d) offer letter means the letter to be issued by the acquirer to the shareholders whose names appear on the register of members of the target company as on the date of book closure, the custodians of Global Depository Receipts, the custodians of American Depository Receipt and holders of convertible securities(where the period of conversion falls within the offer period) in pursuance of section 13 of the Ordinance and in accordance with the specifications provided in schedule I; (e) Ordinance means the Listed Companies(Substantial Acquisition of Voting Shares and Take-Overs) Ordinance, 2002; (f) schedule means…