|
| Exchange Disseminated Time | HSBC Securities and Capital Markets (India) Pvt Ltd ("Manager to the Open Offer" or "Manager"), on behalf of Colfax Corporation ("Colfax" or "Acquirer") and Colfax UK Holdings Ltd ("Colfax UK"), Exelvia Group India B.V. ("Exelvia") and ESAB Holdings Ltd ("ESAB Holdings" and together with Colfax UK and Exelvia, the "PACs") in their capacity as persons acting in concert with the Acquirer has informed this Detailed Public Statement ("DPS") to the shareholders of ESAB India Ltd ("Target Company") regarding Open Offer for acquisition of 4,002,185 Shares representing 26% of the total Shares of the Target Company of as of the tenth working day from closure of the tendering period of the Open Offer from the shareholders of Target Company, in compliance with Regulation 13 (4) read with Regulation 14 and Regulation 15(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ("SEBI (SAST) Regulations").
Pursuant to the Public Announcement ("PA") filed on January 18, 2012 with the BSE Ltd ("BSE"), the National Stock Exchange of India Ltd ("NSE"), and sent to the Securities and Exchange Board of India ("SEBI") and the Target Company, in terms of Regulations 3(1) and 4 read with 5(1) of the SEBI (SAST) Regulations.
The Offer:
This Open Offer is being made to all holders of Shares of the Target Company other than the Acquirer and the PACs.
As on the date of this DPS there are no outstanding convertible securities, depository receipts, warrants or instruments,
issued by the Target Company, convertible into Shares of the Target Company.
The price being offered under this Open Offer is INR 550 per Share ("Open Offer Price") comprising of an amount of INR 529 per Share of the Target Company ("Base Open Offer Price") and an additional amount of INR 21 per Share, being equal to a sum determined at the rate of 10% p.a. on INR 529 for the period between the earlier of the date on which the Primary Acquisition was contracted or the date on which the intention or the decision to make the Primary Acquisition was announced in the public domain (i.e. September 12, 2011 in each case) and the date of this DPS, in accordance with Regulation 8(12) of the SEBI (SAST) Regulations.
Tenative Schedule of Activity:
Identified Date** - March 05, 2012
Date of commencement of tendering period - March 19, 2012
Date of closing of tendering period - April 02, 2012
** Date falling on the 10th working day prior to the commencement of the tendering period, for the purposes of determining the holders of Shares (other than the Acquirer and PACs) to whom the Letter of Offer shall be sent.
(For more details kindly refer Corporate Announcements on www.bseindia.com). |
|
|