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| Exchange Disseminated Time | JM Financial Consultants Pvt Ltd ("Manager to the Offer") on behalf of Television Eighteen India Ltd ("Acquirer") along with I-Ven Interactive Ltd ("Person Acting in Concert or PAC") has issued this Public Announcement ("PA") to the shareholders of Infomedia India Ltd ("Target Company"), pursuant to Regulations 10 & 12 of, and in compliance with, the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto (the "SEBI (SAST) Regulations").
The Offer
This Offer is being made by the Acquirer to the Public shareholders of the Target Company to acquire upto 51,87,621 equity shares being 20% of the voting capital of the Target Company ("Offer Shares"). This Offer is being made pursuant to Regulations 10 & 12 of the SEBI (SAST) Regulations, consequent upon the acquisition of the Sale Shares by the Acquirer and issuance of the Subscription shares and Warrants to the Acquirer which could also be regarded as an acquisition of shares and of control of the Target Company & the acquisition of Additional Equity Shares, if any, of I-Ven by the Acquirer under the terms of the Agreement. This offer is being made at a price of Rs 237 per fully paid up equity share (the "Offer Price"), payable in cash in accordance with the SEBI (SAST) Regulations & subject to the terms & conditions mentioned hereinafter (the "Offer or "Open Offer"). The exercise of Acquirer Warrants by the Acquirer will not trigger a further open offer under SEBI(SAST) Regulations.
I-Ven, for the limited purpose of this offer, within the meaning of Regulation 2(1)(e) of the SEBI(SAST) Regulations would be treated as Person acting in Concert ("PAC") with the Acquirer.
Acquirer and PAC are collectively referred to herein as the "Acquirer Group".
Schedule of Activities:
Specified Date - December 28, 2007
Date of Opening of the Offer - February 04, 2008
Date of Closing of the Offer - February 23, 2008 |
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