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| Exchange Disseminated Time | With reference to earlier announcement dated May 31, 2013 regarding proposed offer for sale of equity shares by a constituent of the Promoter Group and notice of floor price, BGR Energy Systems Ltd has informed BSE that :
"Mrs. Sasikala Raghupathy (the "Seller"), being a constituent of the promoter group of the Company, had undertaken to sell an aggregate of 44,22,830 equity shares of Rs. 10 each (such equity shares referred to as the ("Sale Shares") representing 6.13%of the equity share capital of the Company
In this regard, the Seller has submitted a notice dated May 31, 2013 (the "Notice") to the Stock Exchanges intimating June 03, 2013 as the date of Sale and the floor price was announced on May 31, 2013.
Pursuant to the Clause 11 of the SEBI Circular, in case of insufficient demand, the Seller has the option to either conclude the Sale or cancel it in full. This is to inform you that whilst sufficient demand has not received for the Sale Shares at or above the floor price of Rs. 163/-per equity share, the Seller shall conclude the Sale to the extent of valid orders placed on a price priority basis." |
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