STANDARD LISTING FORMALITIES FOR LISTING THE SECURITIES ISSUED ON AMALGAMATION  / MERGER / REHABILITATION - CUM - MERGER / REHABILITATION - CUM - AMALGAMATION.   

1. In case of Amalgamation /Merger of two listed companies, the transferor/transferee company should fix a record date  for the transferor company (if listed) at least 42 days in advance as per clause  16 of the Listing Agreement to ascertain the  names of shareholders of transferor company  who will be entitled to receive   the securities of the transferee company. (with regard to record date and related matters, the company should contact Listing Department of the Exchange. It is advisable to consult this   department before fixing a record date)

2. A copy of  Notice conveyed both by the transferor and transferee companies for  getting   Scheme of    Amalgamation approved  by their  shareholders should be sent to us for our records.

3. A certified true copy  of High Court Order  received  by both the companies  along with the Scheme of  Amalgamation  should be submitted.

  i) Anything stated therein  regarding listing, dividend entitlement,   
     allotment of shares of transferee  company ,ratio  of  exchange of 
     shares, mode of  exchange of shares, cancellation of  shares due to 
     cross holdings  in each other & such relevant  matters  concerning 
     listing should be underlined.

  ii)   Similarly  a statement  therein  not approving  any clause in the 
      scheme or adding into the scheme  should be underlined with red  
      color.

4. A certified true copy of the valuation report (s) of the appointed auditors should be sent to us for our records.

5.   It should be  confirmed  that both the transferor (s) and transferee companies have filed the copy of  order of Hon. High Court  with the respective Registrar of companies within the stipulated period. A certified true copy of proof of registration of High Court Order with the Registrar of companies should  be submitted.

6.  The Enclosed form marked as “ANNEXURE A” should be sent to us duly typed (in  duplicate) for our records.   

Further brief particulars of the companies  Amalgamated/merged should be given in the following order:

i)  a)  Name/s of the Transferor Company/Companies.

    b)  Whether  they are listed or not on any Exchange.

    c)  Their scrip code numbers on this Exchange. (if listed on this Exchange)

ii)    a)  Name of the transferee company:

    b)  Whether it is listed or not.

     c)  Market  lot of  Transferee  Company shares on the Regional          
         Stock  Exchange.

    d)  Code number of the equity shares  on  this  Exchange.

    e)   No. of shares already listed on this Exchange. (A copy of the last 
        such notice  may be enclosed)

    f)     Number of equity shares allotted  on Amalgamation/merger

     g)    Distinctive Numbers of these  shares allotted.

    h)    Face value and  paid-up  value of these shares.

     i)     Increase in number of  shareholders after Amalgamation/merger.

    j)     Registration  number  of the company  allotted by the Registrar of 
        companies.

     k)    Name  and address of present directors.

    l)    Volume   of trading  and market  price  during the last two weeks before  the date of application at the    Regional Stock Exchange (If BSE is  Regional  Stock Exchange then please write "not applicable").

iii)  A detailed statement of new  securities (other than equity shares) issued on amalgamation/merger, such as  nature of securities, number of securities, their paid-up value ,ratio, distinctive  numbers  etc. should  be     submitted. The company has to make  a listing application  for listing  of such securities.

7. The enclosed listing application (by Listed company applying  for  listing of  further securities), Detailed    Listing Application Distribution  schedule  and share Holding pattern form in duplicate(-refer “ANNEXURE   B”)    should be sent to us dully filled  in.

8. If there are non-transferable shares of transferor company  which period has  not  expired then in such   cases, a  certificate from the auditor  of the  company/ practicing charted accountant/practicing company   secretary  should be submitted  to the Exchange specifically certifying  the share certificates issued for   proportionate   number of shares by transferee  company against the the non-transferable  shares held by the allottee in the transferor  company have been enfaced  with a stamp as under:

   “These shares  will not  be  sold/transferred/hypothecated until……..”

These  certificates should also give details of number of  non transferable  shares, Distinctive  numbers  and   date(s) up to  which they are  non-transferable.

9.   Cross Holding:

a)  In  case of  cancellation  of securities  held  by  the  erstwhile  transferor company/ies  in  transferee  company, the total  number of shares and distinctive numbers of the shares should   be intimated.

b)  In  case of cancellation  of securities  held by  the  transferee  company in the transferor  company  the total number of  shares  cancelled should be intimated.

c)  In case of  the  company has made  arrangements for disposal of cross holdings as  per the scheme  of Amalgamation approved by the  Hon’ able High Court, then in such cases the  steps  taken by the company  should  be intimated.

10. A statement  showing  dividend  entitlement  of  new  equity  shares      issued   by  the company on  amalgamation  / merger  should  be  given  in  the  following  format:  

11. A certified  copy of the  Board  Resolution  pursuant  to  which  these  shares  are  allotted should  be sent   to us  for  our  records.

12. The  differential  amount   of annual   listing  fee  of  RS ………… for  the year  2000 -  should  be  paid  to the   Exchange.  Kindly send   a Cheque/Demand Draft for the said amount in favour of the  “The  Hyderabad Stock Exchange, Hyderabad”. 
For your reference Listing Fees Schedule is enclosed herewith.

13. A   printed  specimen  of shares certificate after  affixing  company’s common seal on it    should  be sent to us for our records.

14. The   modus operandi  followed by the transferee  company  to issue  of  its shares  to the  share holders  of  erstwhile  transferor company  should be  intimated. A copy  of  the circular  sent to the  shareholders  of the  transferor company should be  sent  to us  for our records.

15. A  complete  list  of  transferee  company’s  capital   since its inception, including the year, mode of issue (Public, Rights, Bonus etc.), Distinctive Numbers ,Date of Listing etc. should be submitted.

16. A complete  list of allottees  of  unlisted  transferor  company/ies  should be  submitted. In case the  list of  allottees  is  large( say, more  than  100), it should be given on floppy.

17. A  certified true copy   of listing  permission  letter  received by the  company from the Regional Stock Exchange granting  listing permission to the  new securities issued  by  it to the shareholders  of erstwhile  transferor  company/ies  on  its  amalgamation with it ,should be sent to us for our records.

18. The  company  should  confirm  whether the Government of India had  put  any condition on any   of  the  transferor  or  transferee  companies while  granting relaxation of rule19 (2)(b)  of  the  securities  Contract (Regulation)  Rules,1957.If  yes, the  company should further  confirm / undertake, as the case  may be ,that the company  has  compiled /will  be complying with the conditions  stipulated  by the government.

19. The company  should    provide  the details  of  the  company’s securities  issued but not yet listed (e.g. Non-Convertible  Debentures, warrants  etc.) on  any stock exchange.

20.  The  company  should  confirm  the  following:

a)  Register of Member  is open  for  transfer

b)  Dispatch  of   share  certificates  to all shareholders   of the  erstwhile  transferor company/ies    who have to surrender the old  share  certificates of  the  transferor company.

c)  Share  Certificates are issued  as far  as possible  in existing  market  lot of the company‘s shares  on the Exchange (unless desired by the allottees )  and  in  case  of  odd  lots the  same are  issued  as  per  clause  4(a) of the Listing agreement.

d)  Address  of office where share transfers  are accepted for registration.

e)  Company’s  officer's  name , his  designation and telephone  number(s) to be made available to the investors/brokers  for  satisfying  their queries.

21. The  Managing  Director/Company Secretary  of the  transferee  company  has  to  give a declaration to the Exchange that all the necessary legal statutory formalities for giving effect to the scheme of  amalgamation etc. are eligible for listing .The company /ies  Board  of Directors are fully responsible  for  issue/allotment of such shares and in the event the issue of shares being  held  in-valid/irregular   or the allotment  void , it shall compensate the concerned  investors as advised  by  SEBI / Exchange(s).

22. The company  secretary  of the  transferee  company has to  give an undertaking to  the  Exchange  that  the  share  certificates of  the  company will only  be  issued  on surrender  of  the  same  are received  by  post it  shall  issue them  by registered  post  within  7  days  of  receipt of the old certificates.

23. Copies  each  of last  two  years  Annual  Reports  of  both  the  transferor  and transferee  company/ies  should  be submitted.

24. Incase  of  change  in  the  transferee  company’s  name  subsequent to the amalgamation/ merger/ rehabilitation-cum-merger, the  company should  send  the  following:

a) A certified  true copy  of  certificate of  the  registrar  of  companies for change  in the transferee  company’s name. The company  should  not  apply  separately  to  the Exchange   for  carrying  out the  change  in  the  name  of transferee company ,before listing  the securities  of  the  transferee  company , issued  on  amalgamation/merger etc.

b) The  procedure  adopted by  the transferee  company viz. I) issue  of new  share certificate  on  surrender  of  old  share  certificates  of  the transferee  company (prior amalgamation  share  certificates) or ii) issue of stickers  bearing  the new name  of the company  duly authenticated (with  rubber stamp  of  the   company   at  its  bottom and   printed  signature   of  the  authorized  signatory   across  the  rubber  stamp), should  be  intimated.

c) A  confirmation  that  the  same  distinctive  numbers of the securities (of the renamed transferee company) are being  allotted to the security holders (prior amalgamation)  of  the  transferee  company  and that  the distinctive  numbers commencing  after the  last  distinctive number allotted   to  the  security holders of        the  transferee  company  are being allotted  to the securities holders of the transferor company.

25. In case  the  company  has  framed  “ODD-LOT  SCHEME”  for the  benefits of the odd lot  shareholders  then three  copies of the scheme should  be sent  to the Exchange for its  records.

26. The  company  should  forward   the  credit   details  of  the  holdings  of  the shareholders in the demat  form  of  its  further  issues  like  bonus  shares , right issues  etc. to NSDL (National  Securities  Depository  Limited) only after receiving listing  permission  letter  from  all  the Stock  Exchanges where  the  company's     securities are  listed .They may complete  all  the  necessary formalities with  NSDL but  should  instruct  NSDL  to  credit the  account  of the shareholders holding  shares in  dematerialized   form, only after  receipt  of further instructions from the company .The  distinctive numbers of shares which are  in dematerialized form   should be intimated to the  Exchange. 

The   Exchange  reserves the  right  to  modify  and ask  for  additional  listing  formalities depending  on  a case  to case   basis.  The  Exchange  may  modify / add/delete  any formality/ies  from  the  standard   list, if  required  on  issue  of   further  guidelines  /  clarifications  by  SEBI. .