Kotak Mahindra Capital Company Ltd ("Manager to the Buyback") on behalf of Piramal Healthcare Ltd ("Target Company") has informed this Post Buy back Public Announcement to the Shareholders / Beneficial Owners of the equity shares of the Target Company, which is in continuation of & should be read in conjunction with the Public Announcement ("PA") issued on December 09, 2010, Letter of Offer ("LoF") dated February 25, 2011, and the subsequent Corrigendum to PA ("Corrigendum") issued on March 02, 2011 .
1. The buyback ("Buyback") of 41,802,629 fully paid up equity shares of Rs. 2/- each ("Shares") by the Target Company through a tender offer at a price of Rs. 600/- per Share in accordance with Section 77A and other applicable provisions of the Companies Act, 1956, the Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 as amended ("Regulations") and the relevant provisions of the Memorandum of Association and Articles of Association of the Company and in accordance with the terms of the relevant approvals obtained by the Company. The Buyback constitutes 20% of the issued, subscribed and paid-up equity share capital of the Company as on September 30, 2010.
2. The Buyback offer was open from March 03, 2011 to March 24, 2011.
3. Save as in respect of the Shares set out in paragraph 7 below, the Company has completed the process of the Buyback and has accepted a total of 41,802,629 Shares (which includes 705,529 Shares accepted from Overseas Corporate Body, which has been kept in abeyance pending receipt of requisite approval from Reserve Bank of India), at a price of Rs. 600/- per Share.
The total amount invested along with number of shares accepted in the Buyback is as below:
Shares accepted and payments already dispatched under the Buyback by the Company
Shares Accepted (No.): 41,097,100
Buyback Consideration (Rs.) : 24,658,260,000
Shares accepted and payments withheld for an erstwhile Overseas Corporate Body (to be paid post receipt of the approval from Reserve Bank of India)
Shares Accepted (No.): 705,529
Buyback Consideration (Rs.) : 423,317,400
Total
Shares Accepted (No.): 41,802,629
Buyback Consideration (Rs.) : 25,081,577,400
4. The Registrar to the Offer i.e., Link Intime India Pvt Ltd received 20,070 valid acceptances for 16,29,37,627 Shares leading to a subscription of approximately 389.78%. All valid acceptances were considered for acceptance on a proportionate basis as provided in Regulation 9(4) of the Regulations and paragraph 77 of the Letter of Offer. The communication of acceptance and rejection of invalid applications was sent by the Registrar on March 28, 2011.
5. The Share Certificates for balance Shares, remaining after proportionate acceptance of Shares (held in physical form) were dispatched on March 28, 2011. The instructions to credit back balance Shares, remaining after proportionate acceptance of Shares (held in electronic form) to the depository accounts of the respective shareholders were issued on March 28, 2011.
6. The payment of consideration to all the resident shareholders and non-resident shareholders in respect of 4,10,97,100 Shares (i.e. excluding the Shares tendered by the erstwhile overseas corporate body as described in paragraph 7 below) was completed by the Company on March 28, 2011.
7. In compliance with the Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder, the payment of consideration and extinguishment of 705,529 Shares accepted by the Company from one (1) erstwhile Overseas Corporate Body ("OCB") will be completed post receipt of the approval from Reserve Bank of India (the "RBI"), for which necessary application is being filed by the Company.
8. The extinguishment of 4,10,97,100 Shares comprising of (i) 3,94,49,598 Shares in dematerialized form, and (ii) 16,47,502 equity shares in physical form which were accepted pursuant to the Buyback, was completed by March 29, 2011.
The pre-Buyback and post-Buyback capital structure of the Company is as follows: (Rupees in Lacs)
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Saturday, April 02, 2011
Piramal Healthcare Ltd: Updates on Buy back Offer
Kotak Mahindra Capital Company Ltd ("Manager to the Buyback") on behalf of Piramal Healthcare Ltd ("Target Company") has informed this Post Buy back Public Announcement to the Shareholders / Beneficial Owners of the equity shares of the Target Company, which is in continuation of & should be read in conjunction with the Public Announcement ("PA") issued on December 09, 2010, Letter of Offer ("LoF") dated February 25, 2011, and the subsequent Corrigendum to PA ("Corrigendum") issued on March 02, 2011 .
1. The buyback ("Buyback") of 41,802,629 fully paid up equity shares of Rs. 2/- each ("Shares") by the Target Company through a tender offer at a price of Rs. 600/- per Share in accordance with Section 77A and other applicable provisions of the Companies Act, 1956, the Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 as amended ("Regulations") and the relevant provisions of the Memorandum of Association and Articles of Association of the Company and in accordance with the terms of the relevant approvals obtained by the Company. The Buyback constitutes 20% of the issued, subscribed and paid-up equity share capital of the Company as on September 30, 2010.
2. The Buyback offer was open from March 03, 2011 to March 24, 2011.
3. Save as in respect of the Shares set out in paragraph 7 below, the Company has completed the process of the Buyback and has accepted a total of 41,802,629 Shares (which includes 705,529 Shares accepted from Overseas Corporate Body, which has been kept in abeyance pending receipt of requisite approval from Reserve Bank of India), at a price of Rs. 600/- per Share.
The total amount invested along with number of shares accepted in the Buyback is as below:
Shares accepted and payments already dispatched under the Buyback by the Company
Shares Accepted (No.): 41,097,100
Buyback Consideration (Rs.) : 24,658,260,000
Shares accepted and payments withheld for an erstwhile Overseas Corporate Body (to be paid post receipt of the approval from Reserve Bank of India)
Shares Accepted (No.): 705,529
Buyback Consideration (Rs.) : 423,317,400
Total
Shares Accepted (No.): 41,802,629
Buyback Consideration (Rs.) : 25,081,577,400
4. The Registrar to the Offer i.e., Link Intime India Pvt Ltd received 20,070 valid acceptances for 16,29,37,627 Shares leading to a subscription of approximately 389.78%. All valid acceptances were considered for acceptance on a proportionate basis as provided in Regulation 9(4) of the Regulations and paragraph 77 of the Letter of Offer. The communication of acceptance and rejection of invalid applications was sent by the Registrar on March 28, 2011.
5. The Share Certificates for balance Shares, remaining after proportionate acceptance of Shares (held in physical form) were dispatched on March 28, 2011. The instructions to credit back balance Shares, remaining after proportionate acceptance of Shares (held in electronic form) to the depository accounts of the respective shareholders were issued on March 28, 2011.
6. The payment of consideration to all the resident shareholders and non-resident shareholders in respect of 4,10,97,100 Shares (i.e. excluding the Shares tendered by the erstwhile overseas corporate body as described in paragraph 7 below) was completed by the Company on March 28, 2011.
7. In compliance with the Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder, the payment of consideration and extinguishment of 705,529 Shares accepted by the Company from one (1) erstwhile Overseas Corporate Body ("OCB") will be completed post receipt of the approval from Reserve Bank of India (the "RBI"), for which necessary application is being filed by the Company.
8. The extinguishment of 4,10,97,100 Shares comprising of (i) 3,94,49,598 Shares in dematerialized form, and (ii) 16,47,502 equity shares in physical form which were accepted pursuant to the Buyback, was completed by March 29, 2011.
The pre-Buyback and post-Buyback capital structure of the Company is as follows: (Rupees in Lacs)
1. The buyback ("Buyback") of 41,802,629 fully paid up equity shares of Rs. 2/- each ("Shares") by the Target Company through a tender offer at a price of Rs. 600/- per Share in accordance with Section 77A and other applicable provisions of the Companies Act, 1956, the Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 as amended ("Regulations") and the relevant provisions of the Memorandum of Association and Articles of Association of the Company and in accordance with the terms of the relevant approvals obtained by the Company. The Buyback constitutes 20% of the issued, subscribed and paid-up equity share capital of the Company as on September 30, 2010.
2. The Buyback offer was open from March 03, 2011 to March 24, 2011.
3. Save as in respect of the Shares set out in paragraph 7 below, the Company has completed the process of the Buyback and has accepted a total of 41,802,629 Shares (which includes 705,529 Shares accepted from Overseas Corporate Body, which has been kept in abeyance pending receipt of requisite approval from Reserve Bank of India), at a price of Rs. 600/- per Share.
The total amount invested along with number of shares accepted in the Buyback is as below:
Shares accepted and payments already dispatched under the Buyback by the Company
Shares Accepted (No.): 41,097,100
Buyback Consideration (Rs.) : 24,658,260,000
Shares accepted and payments withheld for an erstwhile Overseas Corporate Body (to be paid post receipt of the approval from Reserve Bank of India)
Shares Accepted (No.): 705,529
Buyback Consideration (Rs.) : 423,317,400
Total
Shares Accepted (No.): 41,802,629
Buyback Consideration (Rs.) : 25,081,577,400
4. The Registrar to the Offer i.e., Link Intime India Pvt Ltd received 20,070 valid acceptances for 16,29,37,627 Shares leading to a subscription of approximately 389.78%. All valid acceptances were considered for acceptance on a proportionate basis as provided in Regulation 9(4) of the Regulations and paragraph 77 of the Letter of Offer. The communication of acceptance and rejection of invalid applications was sent by the Registrar on March 28, 2011.
5. The Share Certificates for balance Shares, remaining after proportionate acceptance of Shares (held in physical form) were dispatched on March 28, 2011. The instructions to credit back balance Shares, remaining after proportionate acceptance of Shares (held in electronic form) to the depository accounts of the respective shareholders were issued on March 28, 2011.
6. The payment of consideration to all the resident shareholders and non-resident shareholders in respect of 4,10,97,100 Shares (i.e. excluding the Shares tendered by the erstwhile overseas corporate body as described in paragraph 7 below) was completed by the Company on March 28, 2011.
7. In compliance with the Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder, the payment of consideration and extinguishment of 705,529 Shares accepted by the Company from one (1) erstwhile Overseas Corporate Body ("OCB") will be completed post receipt of the approval from Reserve Bank of India (the "RBI"), for which necessary application is being filed by the Company.
8. The extinguishment of 4,10,97,100 Shares comprising of (i) 3,94,49,598 Shares in dematerialized form, and (ii) 16,47,502 equity shares in physical form which were accepted pursuant to the Buyback, was completed by March 29, 2011.
The pre-Buyback and post-Buyback capital structure of the Company is as follows: (Rupees in Lacs)
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