Arati Naik has submitted to the Exchange a copy of Withdrawal of Intention to acquire Equity shares under Regulation 10(1)(a) of SEBI (SAST) Regulations, 2011.
SMARTLINK · price
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Awaiting price reaction for this filing.
Arati Naik, who had earlier indicated an intention to acquire equity shares of Smartlink Holdings, has now withdrawn that intention. The withdrawal was filed under Regulation 10(1)(a) of SEBI's Substantial Acquisition and Substantial Takeover (SAST) Regulations, 2011. As a result, the proposed acquisition will not proceed, and no open offer obligation has been triggered. This effectively closes out a potential change-of-control event that had been hanging over the company.
Removes uncertainty around a potential takeover, which may be viewed positively by shareholders who wished to retain the current ownership structure. No immediate share price catalyst is expected from this development.