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| Exchange Disseminated Time | SPA Capital Advisors Ltd ("Manager to the Offer"), on behalf of International Conveyors Limited ("Acquirer 1") and R. C. A. Ltd ("Acquirer 2”) and I GE (India) Pvt Ltd (“Person Acting in Concert / “PAC”) has informed this Detailed Public Statement ("DPS") in respect of the Voluntary Open Offer to the Equity Shareholders of Elpro International Ltd ("Target Company"), in compliance with Regulation 6 read with Regulation 13(4) of the SEBI Takeover Regulations pursuant to the Public Announcement given on January 17, 2014 and filed with BSE Limited (“BSE"), Securities and Exchange Board of India (“SEBI”) and the Target Company.
The Offer:
The Offer is a voluntary offer by the Acquirers and PAC in terms of Regulation 6(1) of the SEBI Takeover Regulations. The Offer is for acquisition of 4,65,000 (Four Lakh Sixty Five Thousand Only) Equity Shares of face value of Rs. 10/- each representing 10.08% of the paid up Equity Share capital of the Target at a price of Rs. 325 (Rupees Three Hundred Twenty Five only) per Equity Share, payable in cash.
Tentative Schedule of Activities
Identified Date - February 26, 2014
Offer Opening Date - March 13, 2014
Offer Closing Date - March 27, 2014 |
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