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| Exchange Disseminated Time | Systematix Corporate Services Ltd ("Manager to the Offer"), on behalf of Clearwater Capital Partners (Cyprus) Ltd ("Acquirer") and Clearwater Capital Partners Singapore Fund III Pvt Ltd ("Person acting in concert or "PAC"), has informed this Detailed Public Statement ("DPS'') to the Equity Shareholders of Kamat Hotels (India) Limited ("Target Company"), in compliance with Regulation 13(4) of the Securities and Exchange Board of India (Substantial acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ("SEBI (SAST) Regulations, 2011" or "Regulations").
Pursuant to the Public Announcement ("PA") with the Bombay Stock Exchange Ltd, Mumbai ("BSE") and National Stock Exchange of India Ltd, Mumbai ("NSE") on January 11, 2012 and subsequent filings with Securities and Exchange Board of India ("SEBI") and the Target Company in terms of Regulation 3(1) of the Regulations..
The Acquirer & PAC have jointly made the Offer for the acquisition of 4,964,283 (Forty-Nine Lac Sixty-Four Thousand Two Hundred and Eighty-Three) equity shares of the face value of Rs 10/- each representing 26% of the post-conversion paid-up equity share and voting capital of the Target Company ("Offer Size") at a price of Rs 135/- (Rupees One Hundred and Thirty-Five Only) per equity share ("Offer Price") payable in "Cash" and subject to the terms and conditions set out in this DPS and Letter of Offer ("LOF").
Tentative Schedule of the Activities:
Identified date* - February 21, 2012
Date of Opening of the Tendering Period (TP) - March 06, 2012
Date of Closure of the Tendering Period (TP) - March 20, 2012
* Identified Date is only for the purpose of determining the names of the shareholders as on such date to whom the Letter of Offer would be sent. All the owners (registered or unregistered) of equity shares of Target Company, (except the Acquirer and the PAC) anytime before the closure of the TP, are eligible to participate in the Offer.
(For more details kindly refer Corporate Announcements on www.bseindia.com). |
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