Core Emballage Ltd has informed BSE aabout the Following:
Vivro Financial Services Pvt Ltd ("Manager to the Open Offer") on behalf of Mr Zaverilal V Mandalia, Mr Chandresh Z Mandalia, Mr Vipul Z Mandalia, Mr Kishor P Mandalia, Mr Bharat P Mandalia, Mrs Daksha B Mandalia, Mrs Savitri D Pawani & Mrs Bharati A Pawani ("Acquirers") along with Mrs Prafulla Z Mandalia, Mrs Fenny C Mandalia & Mrs Aruna K Mandalia ("Persons Acting in Concerts" or "PACs"), has issued this Post Offer Public Announcement to the Shareholders of Core Emballage Ltd ("Target Company"), which is in continuation of & should be read in conjunction with the Public Announcement ("PA") dated March 20, 2009 & Corrigendum to the PA dated June 23, 2009, in compliance with & pursuant to Regulations 10 & 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 & amendments thereto. ("Regulations"), to acquire 27,24,711 (Twenty Seven Lacs Twenty Four Thousand Seven Hundred & Eleven only) equity shares, representing 20.00% of total issued & subscribed equity shares capital & the voting equity share capital of the Target Company at a price of Rs 10/- (Rupees ten only) per fully paid up equity share of Rs 10/- payable in cash. The terms used but not defined in this Announcement shall have the same meaning assigned to them as in the PA & Corrigendum to PA.
Details of Acquisition:
| S No. | Item | Proposed in the
offer document | Actual | | 1. | Offer Price | Rs. 10 per fully paid up equity share | Rs. 10 per fully paid up equity share | | 2. | Shareholding of Acquirers & PACs (No & %) before Share Purchase Agreement | 5,26,418 | 3.86 | 5,26,418 | 3.86 | | 3. | Shares acquired by way of Share Purchase Agreement (No & %)
(on a definitive basis)
(on a proportionate basis) | No of Shares | % | No of Shares | % | | 68,11,776 | 50.00 | 79,00,284 | 57.99 | | 10,88,508* | 7.99 | | | | 4. | Shares acquired in the Open Offer (No & %) | No of Shares
27,24,711 | %
20.00 | No of Shares
7,02,650 | %
5.16 | | 5. | Size of Open Offer
(Number of shares multiplied by Offer price per share) | Rs 2,72,47,110/- | Rs 70,26,500/- | | 6. | Shares acquired after PA but before 7 working days prior to closure date, if any (No & %) | Nil | Nil | | 7. | Post offer Shareholding of the Acquirer (No & % (2+3+4) | No of Shares | % | No of Shares | % | | 11151413 | 81.85 | 91,29,352 | 67.01 | | 8. | Pre & Post Offer shareholding of Public (No & %)
No of Shares:
Percentage: | Pre Offer | Post Offer | Pre Offer | Post Offer | | 5196850 | 2472139 | 5196850 | 4767756 | | 38.15 | 18.15 | 38.15 | 32.99 | * 10,88,508 shares have been acquired by the acquirers as per the terms of the SPA as disclosed on Page 7 & 26 of the Letter of Offer |