NOTICE
June 29, 2011
CSE/Notices/SEBI/2011/001
All listed companies of the
Calcutta Stock Exchange and Trading members are hereby informed that the
Exchange has received a Circular from SEBI vide Ref. No.CIR/MRD/05/2011 dated April 27
regarding review of Annual Issuer’ Charges. The contents of the said Circular
are given here under for information of all concerned.
Quote : -
CIR/MRD/DP/ 05 /2011 April 27, 2011
To,
All Depositories/ all Stock Exchanges
Dear Sir/Madam,
Sub: Review of Annual
Issuers’ charges
1. Please refer to
SEBI Circulars No. MRD/DoP/SE/Dep/Cir-4/2005 dated January 28, 2005 and No.
MRD/DoP/SE/Dep/Cir-2/2009 dated February 10, 2009 on the captioned subject
matter.
2. In partial
modification to the above circulars, it has been decided to modify the methodology
of calculating the Annual Issuers charges. The annual issuer charges would be
based on the average no. of folios (ISIN positions) during the previous
financial year instead of the total number of folios (ISIN positions) as on
31st March of the previous financial year.
3. The average no. of
folios (ISIN positions) for an Issuer may be arrived at by dividing the total
number of folios for the entire financial year by the total number of working
days in the said financial year.
4. All the Stock Exchanges are advised to:-
4.1. implement the
above by making necessary amendments to the bye-laws and Listing Agreement, as
applicable;
4.2. to bring the
provisions of this circular to the notice of the listed companies/Issuers and
also to put up the same on the website for easy access to the investors; and
4.3. communicate to
SEBI the status of the implementation of the provisions of this circular and
the action taken in this regard in the Monthly Development Report.
5. The Depositories are advised to:-
5.1. make amendments
to the relevant bye-laws, rules and regulations for the implementation of the
above decision, as may be applicable/necessary;
5.2. bring the
provisions of this circular to the notice of the DPs of the Depositories and
the issuers whose securities have been admitted into the depositories and also
to disseminate the same on the website; and
5.3. communicate to
SEBI the status of the implementation of the provisions of this circular in the
Monthly Development Report.
6. The depositories,
may adjust the excess or deficit arising out of the change, with the issuers
for the current financial year.
7. This circular is
being issued in exercise of powers conferred under Section 11 (1) of the
Securities and Exchange Board of India Act, 1992 and Section 19 of the epositories Act, 1996 to protect the
interests of investors in securities and to promote the development of, and to
regulate the securities market.
This circular is
available on SEBI website at www.sebi.gov.in.
Yours faithfully,
Harini Balaji
Deputy General Manager
022-26449372
Unquote:
All
listed companies and trading members are requested to note that the aforesaid
guideline of SEBI and act accordingly.
MAV Raju
DGM (HR & Admn.)