MCDOWELL HOLDINGS LTD. - Outcome Circular Resolution by Board of Directors - Open Offer - Press Release
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| 13 May 2014 | |
| McDowell Holdings Ltd has informed BSE that the Board of Directors by way of resolution passed by circulation on May 12, 2014, inter alia, has approved the following:<br/><br/>1. Execution and signing of the agreement entered into between the UB Group (acting through United Breweries (Holdings) Limited, Kingfisher Finvest India Limited and McDowell Holdings Limited) and Adventz Group (acting through Zuari Fertilisers and Chemicals Limited and Zuari Agro Chemicals Limited) in respect of their respective shareholding in the Mangalore Chemicals and Fertilizers Limited ("Target Company").<br/><br/>2. An open offer for acquisition of up to 3,08,13,939 (Three Crore Eight Lakhs Thirteen Thousand Nine Hundred and Thirty Nine) fully paid-up equity shares of face value of INR 10 each from the public shareholders of the Target Company constituting 26.0% of the fully diluted voting equity share capital (the Offer") by the Zuari Fertilisers and Chemicals Limited (Acquirer") together with Zuari Agro Chemicals Limited, United Breweries (Holdings) Limited, Kingfisher Finvest India Limited and McDowell Holdings Limited as the persons acting in concert (collectively, PAC") with the Acquirer.<br/><br/>This Offer is made pursuant to and in compliance with Regulation 20 of the of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ("SEBI Takeover Regulations) read with Regulations 3(1) and other applicable provisions of the SEBI Takeover Regulations.<br/><br/>As required under Regulation 14(1) of SEBI Takeover Regulations, submitted a copy of the public announcement dated May 12, 2014 issued by Ambit Corporate Finance Private Limited and ICICI Securities Limited as "Managers to the Open Offer" for and on behalf of the Acquirer and PAC to the public shareholders of the Target Company.<br/><br/>In this regard also submitted a copy of Press Release. | |
| View all announcements for MCDOWELL HOLDINGS LTD. | Source: BSE India |
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