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| Exchange Disseminated Time | Sobhagya Capital Options Ltd ("Manager to the Offer") for and on behalf of Nahar Spinning Mills Ltd ("Acquirer") has issued this Supplemental Public Announcement to the shareholders of Nahar Poly Films Ltd (formerly known as Nahar Investments and Holding Ltd) ("Target Company"), which is in continuation of & should be read in conjunction with the Public Announcement ("PA") dated September 20, 2010 & Corrigendum to the PA dated November 10, 2010 ("PAs") and Letter of Offer dated November 09, 2010 (the "Letter of Offer") to acquire upto 24,37,251 fully paid up equity shares of Rs. 5/- each of the Target ("Share") representing 9.91 % of the total paid-up equity share capital of the Target Company ("Offer") as on PA, pursuant to and in accordance with the provisions of Regulation 11 (2A) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").
The Shareholders of the Target are requested to kindly note the following amendments with respect to the PAs and the Letter of Offer:
1. Revision in the Offer Price:
Para 6.2 of the Public Announcement and Para 10.2.2 of the Letter of Offer shall stand revised accordingly.
In terms of regulation 26 of the Regulations, the Acquirer intends to revise the Offer Price from Rs. 40.00 (Rupees Forty Only) per fully paid up equity share to Rs. 50.00 (Rupees Fifty Only) per fully paid-up equity share payable in cash for all the valid acceptances in the Offer. Accordingly, the Offer size stands revised from Rs. 9,74,90,040/- (Rupees Nine crore seventy four lacs ninety thousand and forty only) to Rs. 12,18,62,550/- (Rupees Twelve crores eighteen lacs sixty two thousand five hundred and fifty only), assuming full acceptances of the Offer.
Revised offer price would be payable to all shareholders who have accepted this Offer and tendered their shares at any time during the term of the Offer to the extent to which their acceptances and tenders have been found valid and accepted by the Acquirer.
All other terms and conditions of the Offer as set forth in the PAs and the Letter of Offer are unchanged.
(For more details kindly refer Corporate Announcements on www.bseindia.com). |
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