Birla Capital & Financial Services Ltd ("Manager to the Offer"), on behalf of Mr. K Sudheer Rao, Mr. S S R K Mohan Babu and Mr. P Pavan Kumar ("Acquirers") has issued this Public Announcement ("PA") to the equity shareholders of Croitre Industries Ltd (formerly known as Sai Wires India Ltd) ("Target Company"), pursuant to and in compliance with Regulation 10 and Regulation 12 and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("SEBI (SAST) Regulations" or "Takeover Regulations").
The Offer:
The Acquires are hereby making this Offer to the equity shareholders of the Target Company (other than the parties to the SPA) to acquire up to 12,61,278 (Twelve Lakhs Sixty One thousand Two hundred and Seventy Eight only) Equity Shares of INR 10.00 each of the Target Company representing in aggregate 20% of the paid-up equity share capital and voting capital of the Target Company in terms of Regulation 21(1) of the SEBI (SAST) Regulations at a price of INR 0.25 (Indian Paisa Twenty Five Only) per fully paid-up equity share ("Offer Price") payable in cash subject to the terms and conditions mentioned in this PA and in the Letter of Offer in accordance with the SEBI (SAST) Regulations.
Schedule of Activities:
Specified Date - March 07, 2011
Date of Opening of the Offer - April 15, 2011
Date of Closing of the Offer - May 05, 2011Read More
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Tuesday, February 22, 2011
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