|
| Exchange Disseminated Time | DSP Merrill Lynch Ltd ("Manager to the Offer") for & on behalf of Novartis AG ("Acquirer") has issued this Supplemental Public Announcement to the shareholders of Novartis India Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the Public Announcement (PA) dated March 27, 2009, the Letter of Offer dated May 14, 2009 and the corrigendum to the shareholders of the Target Company dated May 15, 2009, pursuant to Regulation 11(1) of, and in compliance with, the Securities and Exchange Board of India (the "SEBI") (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the "Regulations")
Capitalized terms used in this Supplemental Public Announcement but not defined shall have the same meaning as assigned in the PA.
The shareholders of the Target Company may note the following:
1. Upward Revision of the price of the Offer (the "Offer Price") to the shareholders of the Target as follows:
Offer Price (per fully paid-up equity share of Target)
Original Offer Price - Rs 351 per Share (Rupees Three Hundred and Fifty One)
Revised Offer Price - Rs 450 per Share (Rupees Four Hundred and Fifty)
2. Pursuant to the upward revision in the Offer Price, the maximum consideration required to meet the obligation of Offer assuming 100% acceptance is Rs 5,609,119,500/- (Rupees Five Billion Six Hundred and Nine Million One Hundred and Nineteen Thousand and Five Hundred only) ("Revised Maximum Consideration").
3. The Offer closes on June 8, 2009.
The other terms and conditions of the Offer remain unchanged. |
|
|