27 October 2010
I hold shares in both Nirma as well as Binani Cement(apart from shares in other Companies ).I don't require the funds parked in these Companies for a Long Time . Recently I have received Notice from both these Companies that they are going to ask consent of the Members for the DELISTING of shares of these Companies from the Exchanges . Nirma may put an offer for Buy-Back of Shares from Public at Rs. 235/ per share . Not clear about Binani Cement . What should this step be perceived as ? In case these Companies get the necessary approvals from the Shareholders & go ahead with the De-listing , what should I be doing as a ShareHolder ? Should I sell these shares in the Secondary Market (Or sell in the Buyback offer in case of Nirma) ? Currently , Nirma is quoting at Rs. 231 (My purchase - Rs.156) & Binani at 91 (My Purchase - Rs. 59)
30 December 2010
I assume that you do not have a controling interest in a company.If the resolution is approved by 75% of the shareholders then others will follow the same.
So, In your case you have to sell the sahres to the company as they are going to delist the entity.
CAclubindia
