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| Exchange Disseminated Time | JM Financial Institutional Securities Ltd ("Manager to the Offer") on behalf of Independent Media Trust (“IMT” / “Acquirer”) represented by its trustee Sanchar Content Private Ltd (“SCPL”) together with Reliance Industries Ltd (“RIL” / “PAC1”) and Reliance Industrial Investments and Holdings Ltd (“RIIHL” / “PAC 2”), (“Offer” /“Open Offer”). PAC 1 and PAC 2 are together referred to as “PACs” has informed BSE about Open offer for acquisition of up to 44,65,10,110 equity shares of TV18 Broadcast Ltd,(“TV18” / “Target Company” / “Target”)
Offer:
IMT and the PACs hereby make this Offer to the Public Shareholders (Public Shareholders is defined as the equity shareholders of TV18, excluding the parties to the Share Purchase Agreement dated May 29, 2014 (“SPA”) and persons acting in concert or deemed to be acting in concert with such parties) to acquire up to 44,65,10,110 Equity Shares (“Offer Shares”), constituting 26.0% of the Emerging Voting Capital (being the expected equity share capital as of the 10th Working day after closure of the tendering period for the Offer after considering all potential increase in the number of outstanding Equity Shares on account of outstanding employee stock options) of TV18 at a price of Rs 30.18 per Offer Share (“Offer Price”) aggregating to Rs 1,347.57 crore (“Offer Size”), subject to the terms and conditions mentioned in this TV18 PA and the detailed public statement (“TV18 DPS”) and the letter of offer (“TV18 LoF”) that are proposed to be issued in accordance with the SEBI (SAST) Regulations. |
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