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| Exchange Disseminated Time | Standard Chartered Bank ("Manager to the Open Offer"), for and on behalf of Wilmar Sugar Holdings Pte Ltd ("Acquirer 1") and SRS Investments Pte Ltd ("Acquirer 2", Acquirer 1 and Acquirer 2 collectively referred to as the "Acquirers") together with Wilmar International Limited ("PAC 1") and current promoter group of Target Company ("PAC 2") as the persons acting in concert (collectively, "PACs") has informed this Detailed Public Statement ("DPS") to the Public Shareholders of Shree Renuka Sugars Ltd ("Target Company"), in compliance with Regulations 3(1), 3(2) and 4, read with Regulations 13(4), 14, 15(2) and other applicable regulations of the SEBI (SAST) Regulations, pursuant to the Public Announcement in relation to this Offer (the “PA”) filed with the BSE Limited (the “BSE”) and the National Stock Exchange of India Limited (the “NSE”) (BSE and NSE are collectively referred to as “Stock Exchanges”) and sent to the Target Company at its registered office, on February 20, 2014. The PA was filed with the Securities and Exchange Board of India (“SEBI”) on February 21, 2014.
The Offer:
This Offer is being made by Acquirer 1, Acquirer 2, PAC 1 and PAC 2 to all the Public Shareholders of the Target Company, for the acquisition of up to a maximum of 243,161,683 (Two hundred and forty three million one hundred and sixty one thousand six hundred and eighty three) Shares, representing 26% (twenty six per cent) of the Emerging Voting Share Capital, (the “Offer Size”).
The offer price of Rs 21.89 (Rupees Twenty one and eighty nine paise) per Share (the “Offer Price”) will be paid in cash in accordance with Regulation 9(1)(a) of the SEBI (SAST) Regulations.
Tentative Schedule of Activity:
Identified Date - April 02, 2014
Date of commencement of tendering period (Offer Opening Date) - April 21, 2014
Date of expiry of tendering period (Offer Closing Date) - May 05, 2014 |
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