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| Exchange Disseminated Time | DSP Merrill Lynch Ltd ("Manager to the Offer") for & on behalf of Novartis AG ("Acquirer") has issued this Post Offer Public Announcement to the shareholders of Novartis India Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the Letter of Offer dated May 14, 2009 ("Letter of Offer") and the Supplemental Public Announcement ("PA") dated May 27, 2009, pursuant to Regulation 11(1) of, and in compliance with, the Securities and Exchange Board of India ("SEBI") (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").
The details required to be notified under the Regulations following completion of the Offer are as under:
Details of the acquisition:
| Sr. No. | Item | Proposed in the Offer Document | Actual | | 1. | Offer Price | Rs. 351 | Rs. 450* | | 2. | Shareholding of Acquirer (No & %) before the Public Announcement ("PA") | 16,277,437 (50.93%) | 16,277,437 (50.93%) | | 3. | Shares acquired by way of MOU or market purchases (No. & %) | Nil | Nil | | 4. | Shares acquired in the Offer (No & %) | 12,464,710 (38.99%) | 8,147,365 (25.49%) | | 5. | Size of the Offer (No of Shares multiplied by Offer Price per Share) | Rs. 4,375,113,210
(12,464,710 x Rs. 351) | Rs. 3,666,314,250
(8,147,365 x Rs. 450) | | 6. | Shares acquired after PA but before 7 working days prior to closure date, if any (No & %) | NA | Nil | | 7. | Post offer Shareholding of Acquirer/ PACs (No & %) (2+3+4+6) | 28,742,147 (89.93%) | 24,424,802 (76.42%) | | 8. | Pre & Post Offer shareholding of Public (No & %) | Pre: 15,683,360 (49.07%)
Post: 3,218,650 (10.07%) | Pre: 15,683,360 (49.07%)
Post: 7,535,995 (23.58%) | * Offer Price revised from Rs. 351 per share to Rs. 450 per share on May 27, 2009 |
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