Sub: SEBI directions w.r.t. listed Shell Companies – Update on SGN Telecoms Ltd.
Pursuant to the Exchange notice no. 20170807-31 dated August 07, 2017, following actions are initiated w.r.t. the company viz. SGN Telecoms Ltd. (Scrip Code – 531812): -
i. The trading in securities of the Company shall be moved out of GSM Stage VI effective from March 16, 2018. However, the securities of the Company shall continue to remain suspended as intimated vide Exchange notice no. 20170822-18 dated August 22, 2017.
ii. An independent auditor shall be appointed to conduct forensic audit of the Company for verification, including the credentials / financials of the Company.
Further in line with the paragraph 1.b) of SEBI/HO/ISD/ISD/OW/P/2017/18183 dated August 07, 2017, the promoters and directors in the Company are permitted only to buy the securities of the Company and they shall not sell their existing holding in the Company.
All market participants are requested to take note of the above.
For & On behalf of BSE Ltd.
Usha Sharma Rajesh Gandhi
Addl. General Manager Asst. General Manager
Surveillance Surveillance
March 15, 2018 |