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 ARHAT TOUCH PRIVATE LIMITED (Hereinafter referred to as (‘Acquirer’)to the public shareholders of AKM CREATIONS LIMITED (FORMERLY KNOWN AS AKM LACE AND EMBROTEX LIMITED) (“TARGET COMPANY”) at a price of Rs 15/- (Rupees Fifteen Only) per equity share (“offer price”), payable in cash, to acquire up to 22,39,166 /- (Twenty two lakhs thirty nine thousand one hundred and sixty six only ) equity shares of face value of Rs. 10/- each (“offer shares”), representing 26% (Twenty six percentage) of the voting share capital pursuant to the provisions of Regulations 3 (1) and 4 of the SEBI (SAST) Regulations, for substantial acquisition of Equity Shares and Voting Share Capital accompanied with change in control and management of the Target Company. From February 14, 2024 To February 28, 2024 (Excluding February 19, 2024 due to SEBI 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.
Note: Since the Equity Shares of the Target Company are listed on SME platform of BSE, the same will be accepted under the Offer in the minimum lot of 3000 Equity Shares.
Mangesh Tayde
Deputy General Manager
Listing Business Relationship
February 13, 2024 |