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| Exchange Disseminated Time | Sobhagya Capital Options Ltd ("Manager to the Offer") for and on behalf of Pradeep Mercantile Company Pvt Ltd ("Acquirer") has issued this Public Announcement ("PA") to the Shareholders of Vardhman Holdings Ltd ("Target Company"), pursuant to & in compliance with, amongst others, Regulation 11(2A) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 & Subsequent amendments thereto ("SEBI (SAST) Regulations" or "Regulations").
The Offer:
The Acquirer is making an Open Offer ("Offer" or the "Open Offer") to the Shareholders of the Target Company to acquire up to 252,163 fully paid up equity shares of Rs 10/- each of the Target Company ("Shares"), representing 7.9% of the total paid-up equity share capital of the Target Company as on the date of this PA.
The offer is being made at a price of Rs 223.00 (Rupees Two Hundred and twenty three only) for each share (the "Offer Price"), to be paid in cash, in accordance with the provisions of the Regulations and subject to the terms and conditions mentioned in this PA and the terms and conditions that will be set out in the Letter of Offer in relation to the Offer (the "Letter of Offer").
Schedule of Activities:
Specified Date - October 09, 2009
Date of Opening of the Offer - November 11, 2009
Date of Closing of the Offer - November 30, 2009 |
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