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| Exchange Disseminated Time | | With reference to earlier letter dated April 27, 2016 regarding Mandatory conditional cash offer announcement by Grapene Limited (“Offeror”), an indirect wholly-owned subsidiary of Indiabulls Real Estate Limited, pursuant to the requirements under the Singapore Code on Take-overs and Mergers, for acquisition of all the units in IPIT ("Units") in issue other than those already owned, controlled or agreed to be acquired by the Offeror, its related corporations or their respective nominees, at an offer price of S$ 0.25 in cash for each Unit ("Offer"), Indiabulls Real Estate Ltd has now informed BSE that the Offeror has on 29 April, 2016 acquired 19,000,000 additional Units on the Singapore Exchange Securities Trading Limited and as a result of such acquisition, the total number of Units owned, controlled or agreed to be acquired by the Offeror and certain parties acting in concert with the Offeror has increased from 48.51% to 51.03% of the total number of Units in issue and accordingly the Offeror has announced that the minimum acceptance condition to the Offer has been fulfilled and the Offer has therefore become and is hereby declared to be unconditional in all respects (“Unconditional Announcement”). The Company has submitted to BSE a copy of the Unconditional Announcement dated April 29, 2016. |
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