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| Exchange Disseminated Time | Lazard India Pvt Ltd ("Manager to the Offer"), on behalf of IP Holding Asia Singapore PTE. Ltd. ("Acquirer") along with International Paper Company ("Person Acting in Concert" or "PAC") has informed this Public Announcement ("PA" or "Public Announcement") to the equity shareholders of The Andhra Pradesh Paper Mills Ltd ("Target Company"), pursuant to and in compliance with Regulation 10, 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 ("SEBI (SAST) Regulations" or "Regulations"). Except for the Person Acting in Concert, no other person/ individual/ entity is acting in concert with the Acquirer for the purposes of this Offer. The purchase of Shares by the Acquirer and the PAC is subject to obtaining the required approvals from the Reserve Bank of India ("RBI") and if applicable, Competition Commission of India ("CCI"), under applicable laws as described in Section V.
The Offer:
The Acquirer along with PAC is making this Offer to acquire up to 8,567,521 fully paid up equity shares ("Offer Shares") of the face value of INR 10 each, representing in aggregate 21.54% of the Emerging Voting Capital of the Target Company in terms of Regulation 21(1) of the SEBI (SAST) Regulations, at a price of INR 544.20 per fully paid up share ("Offer Price") payable in cash subject to the terms and conditions mentioned in PA.
Schedule of Activities:
Specified Date - April 08, 2011
Date of Opening of the Offer - May 26, 2011
Date of Closing of the Offer - June 14, 2011
(For more details kindly refer Corporate Announcements on www.bseindia.com). |
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