Indbank Merchant Banking Services Ltd ("Manager to the Offer") for & on behalf of Shri. KG Baalakrishnan, Shri B Sriramulu, Shri. B Srihari & Sri Kannapiran Mills Ltd ("Acquirers") & Smt. B Sathyabama, Smt. T Anandhi, Smt. Nirupa Sriramulu, Smt. Deepika Karthikeyan, KG Fabriks Ltd, Ganapathykumaran Investments Pvt Ltd and Kumaranganapathy Investments Pvt Ltd ("PACs"), has issued this Corrigendum to the Public Announcement to the shareholders of KG Denim Ltd ("Target Company"), which is in continuation of & should be read in conjunction with the Public Announcement ("PA") dated August 31, 2007, pursuant to and in compliance with regulation 15 of " the Regulations issued by SEBI, to acquire upto 51,30,781 fully paid up equity shares of Target Company representing 20% of the voting equity capital of the Target Company at a price of Rs 18.00 (Rupees Eighteen only) for each fully paid up equity share of the Target Company.
The shareholders of the Target Company are requested to note the Following:
1. Revised schedule of Activities:
The schedule of major activities under the offer stands revised as follows:
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Activity Original Schedule Revised Schedule
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Specified Date September 28, 2007 September 28, 2007
Date of Opening of the Offer October 25, 2007 May 30, 2008
Date of Closing of the Offer November 13, 2007 June 18, 2008
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2. In addition to the originally offered price of Rs 18 per fully paid up equity share (Rupees Eighteen only) the acquirers will be paying interest of Rs 1.08 per fully paid up equity shares calculated at 10% p.a. from the last date of payment of consideration as per the original schedule as mentioned in the PA (i.e. November 28, 2007) till the last date of payment as per the revised schedule mentioned in this corrigendum to the PA (i.e. July 03, 2008). The interest paid may vary according to the actual date of despatch of consideration to the shareholders who accept this offer and is subject to deduction of taxes at a source as may be applicable and will be paid accordingly. The total consideration of Rs 19.08 per share (Rupees Nineteen and Eight Paise only) is payable in cash in accordance with the Regulations. |