INDIA SECURITIES LTD. - Updates on Delisting Offer

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INDIA SECURITIES LTD. - Updates on Delisting Offer

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30 May 2012
India Securities Ltd has submitted to BSE a copy of Supplemental public announcement for voluntary delisting of equity Shares.<br/><br/>Edelweiss Financial Services Ltd ("Manager to the Offer") on behalf of Essar Capital Ltd ("Acquirer") has informed this Supplemental Public Announcement ("Supplemental Announcement") to the Public shareholders of India Securities Ltd ("Target Company") which is in continuation of and should be read in conjunction with the Original Public Announcement ("Original PA") dated March 10, 2012 which was published on March 12, 2012, the Offer Letter dated March 10, 2012 ("Offer Letter"), the announcement made for the Information of the Equity Shareholders of the Company dated March 22, 2012 which was published on March 23, 2012 and the Post Offer public announcement ("Post Offer PA") dated March 30, 2012 which was published on March 30, 2012 and the Corrigendum to the PA dated April 13, 2012 which was published on April 14, 2012 ("Corrigendum").<br/><br/>Capitalized terms used in this Supplemental Announcement but not defined shall have the same meaning as assigned in the Original PA. <br/><br/>The Public Shareholders are hereby informed that instructions for return of Shares to those whose bids have not been accepted in the reverse book building process have been issued on May 28, 2012 and May 29, 2012.<br/><br/>Pursuant to receipt of the letter from SEBI dated May 16, 2012 ("SEBI Letter") on instructions relating to the delisting Offer, the Acquirer has made representations to SEBI and Manager to the Offer is seeking clarification from SEBI on certain aspects of the SEBI Letter and the outcome is awaited.<br/><br/>The revised date of payment to the Public Shareholders whose shares have been accepted in the reverse book building process will be published by the Manager to the Offer in due course in the same newspaper in which Original PA was published. <br/><br/>The Other terms and conditions of the Offer remain unchanged.
View all announcements for INDIA SECURITIES LTD.	Source: BSE India

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