Opening of Offer to Buy – Acquisition Window (Takeover) of GDL LEASING & FINANCE LTD.
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. Prem Kumar Jain (“Acquirer 1”) And Mr. Mohit Jain (“Acquirer 2”) and Mr Ashish Jain (“Acquirer 3”)(“Acquirer 1”, “Acquirer 2” and Acquirer 3 hereinafter collectively referred to as “Acquirers”) to the public shareholders of GDL Leasing & Finance Ltd (“Target Company”) at a price of Rs 11.00 (Rupees Eleven only) per fully paid-up Equity Share (“Offer price”), and applicable Interest of Rs. 0.05/- (Five Paisa only) per equity share amounting to Rs. 11.05/- (Rupees Eleven and Paise Five only) per equity share (“Offer price plus applicable Interest”) payable in cash, to acquire up 7,82,626 (Seven Lakh Eighty-Two Thousand Six Hundred Twenty-Six) Equity Shares of face value of Rs.10/- each (“Offer Shares”), representing 26% (Twenty-Six per cent) of the total voting share capital of the Target Companys pursuant to regulation 3(1) and regulation 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereof, from November 23, 2023 To December 07, 2023 (Excluding November 27, 2023 being Trading Holiday).
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 Business Relationship
November 21, 2023 |