Non-promoter holding on a continuous basis and minimum number of shareholders

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..... 02, 2001 The Presidents/Executive Directors/ Managing Directors of all the Stock Exchanges Dear Sir/Madam, Sub: Non-promoter holding on a continuous basis and minimum number of shareholders The matter of requirement of quantitative continuous listing conditions to be complied by the listed companies to maintain a minimum floating .....

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..... e application for listing being granted by the Exchange, the company shall maintain on a continuous basis, the minimum level of non-promoter holding at the level of public shareholding as required at the time of listing. ii. Where the non-promoter holding of an existing listed company as on April 01, 2001 is less than the limit of public shareholding as required at the time of initial .....

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..... d (iii) shall not apply to the companies referred to BIFR. (v) The company agrees that the following shall also be the condition for continued listing. a. When any person acquires or agrees to acquire 5% or more of the voting rights of any securities, the acquirer and the company shall comply with the relevant provisions of the SEBI (Substantial Acquisition of Shares and .....

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..... h capital issued. This requirement is being withdrawn. You are advised to modify the listing agreement as above and monitor the level of non promoter holding on a half yearly basis from the returns submitted by the companies in specified formats. Yours faithfully, P K BINDLISH Deputy General Manager Secondary Market, Depositor .....

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