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| Exchange Disseminated Time | Suprajit Engineering Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 06, 2015, has approved the:
1. Proposal of acquiring 51% to 61.88% in the Equity Capital of Phoenix Lamps Limited, from ARGON INDIA LIMITED, Mauritius & ARGON SOUTH ASIA LIMITED, Mauritius at an agreed price of Rs. 89/- (Rupees Eighty Nine) per share of Rs. 10/- each and signed a Share Purchase Agreement on May 06, 2015.
2. Open Offer to acquire 72,85,018 shares of Rs. 10/- each aggregating to 26% of the Equity Capital of the Company, at Rs. 100 (Rupees One Hundred) per share.
3. Appointment of Karvy Investor Services Limited, Category I Merchant Banker, to manage the open offer.
Phoenix Lamps Limited is the largest manufacturer of Automotive Lamps in India and caters to Indian OEMs, After Market and European Aftermarket segment. |
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