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| Exchange Disseminated Time | Enam Securities Pvt Ltd ("Manager to the Offer"), for and on behalf of Tube Investments of India Ltd ("Acquirer") has informed this Detailed Public Statement ("DPS") regarding Open Offer to the equity shareholders of Shanthi Gears Ltd ("Target Company") pursuant to and in compliance with Regulation 13(4) and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 2011 and subsequent amendments thereto ("SEBI (SAST) Regulations" or the "Regulations"), pursuant to the Public Announcement ("PA") filed on July 13, 2012 with BSE Ltd ("BSE"), the National Stock Exchange of India Ltd ("NSE") and the Target Company filed on July 16, 2012 with Securities and Exchange Board of India ("SEBI") in terms of Regulations 3(1) and 4 of the SEBI (SAST) Regulations.
The Offer:
The Acquirer is making an Open Offer to acquire upto 2,12,46,122 fully paid up equity Shares of the face value of Rs. 1 each ("Offer Share"), representing in aggregate 26% of the Share Capital of the Target Company as on 10th working day after closing of tendering period at a price of Rs. 81/- (Rupees Eighty One only) per fully paid up equity share payable in cash, ("Offer Price") in accordance with the provisions of the SEBI (SAST) Regulations and subject to the terms and conditions set out in this DPS and the letter of offer in accordance with the provisions of the SEBI (SAST) Regulations ("Letter of Offer").
Tentative Schedule of Activity:
Identified Date - August 22, 2012
Date of Commencement of Tendering Period (Offer Opening Date) - September 05, 2012
Date of Expiry of Tendering Period (Offer Closing Date) - September 18, 2012 (For more details kindly refer Corporate Announcements on www.bseindia.com). |
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