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Fairfield Atlas gets nod for delisting proposal

27 Feb 2013 Evaluate

Fairfield Atlas’ board has approved the delisting offer received from parent company. The company’s board gave the approval at its meeting held on February 26, 2013. Last week, the company had received a letter from TH Licensing Inc., the promoter of the company proposing to make a voluntary delisting offer to the public shareholders of the company in accordance with the delisting regulations with a view to delist the equity shares of the company from the Bombay Stock Exchange (BSE).

The market regulator Securities and Exchange Board of India (SEBI) has mandated that all listed companies have to increase public shareholding to a minimum 25% by June 2013. TH Licensing Inc. currently holds 83.91% of the paid-up capital of the company.

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