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| NOTICES |
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| Notice No. |
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20210224-23 |
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Notice Date |
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24 Feb 2021 |
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| Category |
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Trading |
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Segment |
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Equity |
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| Subject |
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Opening of Offer to Buy – Acquisition Window (Delisting) for Remi Elektrotechnik Limited |
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| Attachments |
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Letter of Offer.pdf ; |
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| Content |
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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 Takeovers, 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, 20190207-23 dated 07 Feb 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 the Promoter Acquirer is making delisting offer to the Public Shareholders of REMI ELEKTROTECHNIK LIMITED (“Company”) pursuant to Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (the “Delisting Regulations”) and are inviting shareholders to tender their fully paid-up equity shares of face value of Rs. 10/- each of the Company (“Equity Shares”), through the reverse book-building process (“RBBP”) in accordance with the Delisting Regulations. (“Delisting Offer”). The Promoter Acquirer is seeking to acquire 12,23,740 Equity Shares (“Offer Shares”) of face value of Rs. 10/- of the Company (“Equity Shares”) at the floor price of Rs. 11.52 per Equity Share each representing the balance 25.15% of the paid-up equity share capital from the public shareholders of the Company (“Public Shareholders”) being all the shareholders of the Company other than the Promoter Group pursuant to Regulation 5 & 6(b) read with Chapter IV of the Delisting Regulations, from March 01, 2021 to March 05, 2021.
Market participants are further requested to note that the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Atul Dhotre
Senior Manager
Listing Sales & Ops
February 24, 2021
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