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| Exchange Disseminated Time | With reference to the earlier announcement regarding Open Offer for acquisition of up to 14,19,405 (Fourteen lakh nineteen thousand four hundred five) fully paid-up equity shares of face value of Rs. 10 (Indian Rupees Ten) each ("Equity Shares") from the public shareholders of Wheels India Ltd ("Target Company") by Titan Europe Plc ("Acquirer") and Titan International, Inc. as the Person Acting in Concert ("PAC"), under the provision of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011 ("Takeover Regulations"), as amended.
ICICI Securities Ltd ("Manager to the Offer") has informed BSE that in respect of the offer, the Competition Commission of India (CCI) approval was received by the Acquirer/PAC on April 05, 2013. The payments to the shareholders (electronic transfers / dispatch of demand drafts) have been made on April 12, 2013 (excluding electronic rejects). The offer price (inclusive of the interest for delayed payments) stands at Rs. 759.53 per share on which TDS has been deducted in accordance with the applicable tax provisions. |
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