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| Exchange Disseminated Time | Karvy Investor Services Ltd ("Manager to the Offer") for and on behalf of Mr. Santhosh J Karimattom ("Acquirer") has informed this Public Announcement ("PA") to the Equity Shareholders/ beneficial owners of Equity Shares of the Cityman Ltd ("Target Company"), pursuant to and in compliance with Regulation 11(1) and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("SEBI (SAST) Regulations"). This PA is being published prior to coming into force of the Securities Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("2011 Takeover Code"). In accordance with regulation 35 of the 2011 Takeover Code, any open offer for which a public announcement has been made under SEBI (SAST) Regulations shall be continued and completed under the SEBI(SAST) Regulations. Accordingly this Open Offer shall be undertaken and completed in accordance with the SEBI (SAST) Regulations.
The Offer:
This Open Offer is being made by the Acquirer to the public equity shareholders (other than promoter group) of the Target Company to acquire up to 23,40,220 fully paid up equity shares of face value of Rs. 10/- each of the Target Company representing 20% of the paid up equity capital and voting rights of the Target Company. This Open Offer is being made pursuant to and in compliance with Regulation 11 (1) of SEBI (SAST) Regulations at a price of Rs. 10 per fully paid up equity share ("Offer Price") payable in cash in terms of Regulations 20 & 21 of the SEBI (SAST) Regulations.
Schedule of Activities:
Specified Date - November 18, 2011
Date of Opening of the Offer - December 14, 2011
Date of Closing of the Offer - January 02, 2012 |
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