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| Exchange Disseminated Time | Sobhagya Capital Options Ltd ("Manager to the Offer") for and on behalf of Oswal Woollen Mills Ltd ("Acquirer") has issued this Supplemental Public Announcement to the Shareholders of Nahar Capital and Financial Services Ltd ("Target Company"), which is in continuation of & should be read in conjunction with the Public Announcement ("PA") dated February 13, 2010, Corrigendum to the PA dated April 21, 2010 and Letter of Offer dated April 21, 2010 ("Letter of Offer"), to acquire upto 20,41,813 fully paid up equity shares of Rs. 5/- each of the Target Company ("Share") representing 12.19% of the total paid-up equity share capital of the Target Company ("Offer"), pursuant to and in compliance with regulation 11 (2A) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the "Regulations").
The Shareholders of the Target are requested to kindly note the following amendments with respect to the PAs and the Letter of Offer:
Revision in the Offer Price:
In terms of regulation 26 of the Regulation, the Acquirer intends to revise the Offer Price from Rs. 75.00 (Rupees Seventy Five Only) per fully paid up equity share to Rs. 90.00 (Rupees Ninety Only) per fully paid-up equity share payable in cash for all the valid acceptances in the Offer. Accordingly, the Offer size stands revised from Rs. 15,31,35,975/- (Rupees Fifteen crores thirty one lacs thirty five thousand nine hundred and seventy-five only) to Rs. 18,37,63,170/- (Rupees Eighteen crores thirty seven lacs sixty three thousand one hundred and seventy only), assuming full acceptances of the Offer.
Revised offer price would be payable to all shareholders who have accepted this Offer and tendered their shares at any time during the term of the Offer to the extent to which their acceptances and tenders have been found valid and accepted by the Acquirer.
All other terms and conditions of the Offer as set forth in the PAs and the Letter of Offer are unchanged. |
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