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, 20201102-43 dated 02 Nov 2020, 20210825-62 dated Aug 25,2021 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 by Mr. Chirag Kanaiyalal Shah (“Acquirer 1”) and Ms. Nirupama Charuhas Khandke (“Acquirer 2”) (Acquirer 1, Acquirer 2 hereinafter collectively referred to as “Acquirers”) to the public shareholders of Evergreen Textiles Limited (“Target Company”) at a price of Rs. 1.45/- (Rupees One point four five Paise only) per equity share (“Offer Price”), payable in cash, to acquire up to 12,47,535 (Twelve Lakh Forty-Seven Thousand Five Hundred Thirty-Five only) Equity Shares* of face value of Rs.10/- each (“Offer Shares”), representing 25.99% (Twenty Five Point Nine Nine Percent) of the Voting Share Capital (as defined below) from Public Shareholders (as defined below) of Evergreen Textiles Limited (“Target Company”), pursuant to in compliance with the Regulations 3(1) and 4 and other applicable regulations of the SEBI (SAST) Regulations, 2011 for substantial acquisition of shares and voting rights accompanied by change in control over management of the Target Company. From Friday, October 06, 2023 to Thursday, October 19, 2023.
Letter of Offer is herewith 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.
Mangesh Tayde
Deputy General Manager
Listing
October 04, 2023 |