Vivro Financial Services Pvt Ltd ("Manager to the Offer") on behalf of Mrs. Paru M Jaykrishna, Mr. Gokul M Jaykrishna & Mr. Munjal M Jaykrishna ("Acquirers") has informed this Public Announcement ("PA") to the Shareholders of AksharChem India Ltd ("Target Company"), pursuant to regulation 11(2) & other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 ("Regulations" or "SEBI (SAST) Regulations, 1997") and subsequent amendments thereto.
The Offer:
The Acquirers are making this offer under Regulation 11(2) of the Regulations to the public shareholders of the Target Company (other than the existing Promoters & Promoter Group of the Target Company) to acquire 9,90,570 fully paid-up Equity Shares of Rs. 10/- each representing 20% of the Post Issue Voting equity Share Capital (Post Preferential Issue) of the Target Company, at a price of Rs. 18.50 per fully paid-up equity Share ("Offer Price"), payable in cash subject to the terms & conditions mentioned in PA.
Schedule of Activities:
Specified Date - May 13, 2011
Date of Opening of the Offer - June 11, 2011
Date of Closing of the Offer - June 30, 2011Read More
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Monday, April 25, 2011
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