|
| Exchange Disseminated Time | Systematix Corporate Services Ltd ("Manager to the Offer") for and on behalf of Mr. Ram N. Ramamurthy ("Acquirer") has issued this Public Announcement ("PA") to the Shareholders of I-Power Solutions India Ltd ("Target Company"), pursuant to and in compliance with, among others, Regulation 10 and 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").
The Offer:
The Acquirer is now making an Open Offer to shareholders of the Target Company (Other than the Seller) to acquire up to 8,89,800 (Eight Lac Eighty-Nine Thousand and Eight Hundred) equity shares of the Target Company of face value of Rs. 10/- each, representing 20% of the paid up equity share capital & voting capital of the Target Company at a price of Rs 5.75/- (Rupees Five and Paise Seventy-Five Only) per fully paid up equity share ("Offer Price") payable in cash in terms of Regulation 20 of the Regulations.
Schedule of Activities:
Specified Date - January 09, 2010
Date of Opening of the Offer - February 05, 2010
Date of Closing of the Offer - February 24, 2010 |
|
|