|
| Exchange Disseminated Time | JM Financial Institutional Securities Pvt Ltd ("Manager to the Offer" or "Manager"), for and on behalf of the GSPC Distribution Networks Ltd ("Acquirer") along with Gujarat State Petroleum Corporation Ltd ("PAC 1"), Gujarat State Petronet Ltd ("PAC 2"), and GSPC Gas Company Ltd ("PAC 3") as the persons acting in concert (together the "PAC") has informed this Detailed Public Statement ("DPS") regarding Open Offer to the equity shareholders of the Gujarat Gas Company Ltd ("Target Company"), in compliance with regulation 13(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ("SAST Regulations") as well as pursuant to the Public Announcement ("PA") filed on October 03, 2012 with the BSE Ltd ("BSE"), the National Stock Exchange of India Ltd ("NSE"), the Ahmedabad Stock Exchange Ltd ("ASE"), and the Vadodara Stock Exchange Ltd ("VSE") and sent on October 04, 2012 to the Securities Exchange Board of India ("SEBI"), and the Target Company, in terms of regulations 3(1) and 4 of the SAST Regulations.
The Offer:
The Acquirer, together with PACs, are making this Offer to acquire up to 33,345,000 Equity Shares ("Open Offer Shares") representing 26% of the Voting Capital of the Target Company at a price of Rs. 314.17/- (Rupees Three Hundred Fourteen and Seventeen Paise only) per Equity Share ("Offer Price") payable in cash in accordance with the provisions of the SAST Regulations and subject to the terms and conditions set out in this DPS and letter of offer in accordance with the provisions of the SAST Regulations ("Letter of Offer").
Tentative Schedule of Activity:
Identified Date - November 15, 2012
Date of commencement of the Tendering Period (Offer Opening Date) - November 30, 2012
Date of Closure of the Tendering Period (Offer Closing Date) - December 13, 2012
(For more details kindly refer Corporate Announcements on www.bseindia.com). |
|
|