Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeover, Buy Back and De-listing vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017,20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and 20201102-43 dated 02 Nov 2020 has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.
All Market Participants are hereby informed that an Open Offer is made Sanjay Kumar Jain (“Acquirer 1”) and Suman Jain (“Acquirer 2”) (Acquirer 1 and Acquirer 2 hereinafter collectively referred to as “Acquirers”) to the Public shareholders of HI-KLASS TRADING AND INVESTMENT LIMITED (“Target Company”) to acquire 8,07,612 (Eight Lacs Seven Thousand Six Hundred and Twelve) ("Offer Shares") fully paid up Equity Shares of face value of Rs. 10 each, representing 26% of the total voting share capital of the Target Company on a fully diluted basis, as of the tenth working day from the closure of the Tendering Period (as defined herein below) of the Open Offer from the Public Shareholders of the Target Company for cash at Offer Price of Rs. 17.80/- per equity share including interest @ 10% per annum per Equity Share for the delay in the payment beyond the Scheduled Payment Date (“Offer Price”), December 30, 2020 to January 12, 2021.
The Letter of Offer is attached for your perusal.
Market participants are further requested to note that this offer will be as per the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017 and 20190424-35 dated April 24, 2019 along with the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Atul Dhotre
Senior Manager
Listing Sales & Ops
December 24, 2020
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