Description

BSE revises settlement date to December 31, 2026 for the takeover offer to buy acquisition window for Orient Tradelink Limited originally conducted in July 2019.

Summary

BSE has revised the settlement schedule for the Offer to Buy – Acquisition Window (Takeover) for Orient Tradelink Limited. The takeover offer was originally conducted from July 5, 2019 to July 18, 2019. The revised settlement date is now December 31, 2026, significantly extending the timeline from the previous obligation download date of August 9, 2019.

Key Points

  • Settlement Type: Takeover
  • Settlement Number: 2019069
  • Bid Period: July 5, 2019 to July 18, 2019
  • Original Obligation Download Date: August 9, 2019
  • Revised Settlement Date: December 31, 2026
  • Reference to previous notice: 20241202-09
  • Demat shares must be delivered through Early Pay-in of Shares mechanism available in both depositories
  • Market Type identifier: “Takeover” with settlement number 2019069 to be used in depository system

Regulatory Changes

No new regulatory changes introduced. This circular implements a revised settlement timeline for an existing takeover offer under the established mechanism for acquisition of shares through stock exchange.

Compliance Requirements

  • Members/Custodians must deliver demat shares only through the Early Pay-in of Shares mechanism
  • Members/Custodians must use Market Type “Takeover” and settlement number 2019069 in the depository system
  • Members should refer to Notice No. 20200528-32 dated May 28, 2020 regarding settlement as per Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange
  • Members must refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise Stamp Duty charges
  • For clarifications, contact BSE Help Desk at 022-45720400 or bsehelp@bseindia.com

Important Dates

  • Bid Start Date: July 5, 2019
  • Bid End Date: July 18, 2019
  • Original Obligation Download: August 9, 2019
  • Revised Settlement Date: December 31, 2026
  • Notice Date: December 26, 2025

Impact Assessment

This circular has specific impact on members and custodians involved in the Orient Tradelink Limited takeover offer from 2019. The significant extension of the settlement date by over 7 years indicates potential complications or delays in completing the acquisition process. Members holding obligations related to this settlement should note the extended timeline and ensure compliance with early pay-in requirements. The impact is limited to participants in this specific corporate action and does not affect broader market operations.

Impact Justification

Affects settlement timeline for a specific takeover offer from 2019, extending settlement date significantly to end of 2026. Material for parties involved in this specific acquisition but limited broader market impact.