Advanced Enzyme Technologies: Promoter Group Members Seek Reclassification
Advanced Enzyme Technologies Ltd has received requests from several Promoter Group members, including Jayesh Madhusudan Soni and Shruti Sharad Dhamdhere, to be reclassified as Public Category Shareholders under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These individuals, who acquired shares via gift, state they do not exercise control or participate in management decisions. The reclassification is subject to approval from the Company's Board of Directors, Stock Exchanges, and other regulatory conditions. The requests are based on the premise that their promoter group status is solely due to receiving shares as gifts, and they meet the criteria of not holding significant voting rights, not exercising control, and not having special rights or board representation.
Key Highlights
- Promoter Group members requested reclassification to Public Category.
- Reclassification is under SEBI Regulation 31A.
- Individuals cite gift acquisition of shares as reason.
- They claim no control or management decision involvement.
- Reclassification requires Board, Stock Exchange approvals.
Price Impact
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