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| Exchange Disseminated Time | SBI Capital Markets Ltd ("Manager to the Offer"), for and on behalf of E-Land Fashion China Holdings Ltd ("Acquirer"), has issued this Public Announcement ("PA") to the equity shareholders of Mudra Lifestyle Ltd ("Target Company") pursuant to and in compliance with Regulation 10 and Regulation 12 and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the "SEBI (SAST) Regulations").
The Offer:
This Open Offer is made to all the shareholders of the Target Company other than the Promoters (the "Public Shareholders") in terms of Regulations 10 and 12 of the SEBI (SAST) Regulations to acquire upto 9,598,094 (Nine Million Five Hundred and Ninety Eight Thousand and Ninety Four) equity shares of face value Rs. 10/- (Rupees Ten only) each of the Target Company ("Offer Shares") forming 20% (Twenty Percent) of the "Emerging Voting Capital" which would consist of 47,990,469 (Forty Seven Million Nine Hundred and Ninety Thousand Four Hundred and Sixty Nine only) shares of face value of Rs. 10/- (Rupees Ten only) each and constitutes 26.668 % (Twenty Six Point Six Six Eight Percent) of the existing voting capital of the Target Company at a price of Rs. 60/- (Rupees Sixty only) for each fully paid-up equity share ("Offer Price") to be paid in cash in accordance with the SEBI (SAST) Regulations, and subject to the terms and conditions mentioned in PA and as will be set out in the Letter of Offer in relation to the Offer ("Letter of Offer") and Form of Acceptance-cum-Acknowledgement. The total maximum consideration payable in cash for the Open Offer is aggregating to Rs. 575,885,640/- (Rupees Five Hundred and Seventy Five Million Eight Hundred and Eighty Five Thousand Six Hundred and Forty only) ("Offer Size").
Schedule of Activities:
Specified Date - November 19, 2010
Date of Opening of the Offer - December 15, 2010
Date of Closing of the Offer - January 03, 2011 |
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