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| Exchange Disseminated Time | Shanthi Gears Ltd has informed BSE that Tube Investments of India Ltd, Chennai (“TII”) has on November 19, 2012 acquired 2,12,46,122 equity shares of Re.1/- each of the Company from its shareholders, representing 26% of the Company’s share capital, pursuant to the Open Offer made by TII under the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.
Further the Company has inform that with the above acquisition, TII holds 5,72.96,413 equity Shares, representing 70.12% of the Company’s share capital. Consequently, the Company has become a subsidiary of TII, effective from today i.e. November 19, 2012. |
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