Advanced Enzyme Technologies: Promoter Members Seek Reclassification
Advanced Enzyme Technologies Ltd has received requests from two promoter group members, Sunil Ramdayal Attal and Megha Jhawar, to reclassify their shareholding from 'Promoter Group' to 'Public' category under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The requests are based on the rationale that they do not exercise control or engage in management decisions, having received shares as gifts. Their current holdings are minimal (0.00% and 0.01% respectively). The reclassification is subject to the approval of the Board of Directors, Stock Exchanges, and other regulatory conditions. Both individuals have provided undertakings confirming they do not hold significant voting rights, exercise control, possess special rights, are not on the Board, and are not Key Managerial Persons or wilful defaulters.
Key Highlights
- Promoter group members request reclassification to public shareholders.
- Requests based on lack of control and minimal shareholding.
- Reclassification subject to Board, Stock Exchange approvals.
- Members provide undertakings on control and rights.
Price Impact
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