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SARDA PAPERS LTD. - Open Offer
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05 Sep 2014
Intensive Fiscal Services Pvt Ltd (&quot;Manager to the Open Offer&quot;) has submitted to BSE a Copy of Open Offer for acquisition of upto 8,07,402 (Eight Lacs Seven Thousand Four Hundred and Two Only) fully paid up equity shares from equity shareholders of Sarda Papers Limited except parties to Share Purchase Agreement (SPA) dated September 02, 2014 (Target Company or SPL) by Manish Ladage, N. R. Parameswaran, Kamini Johari and Kartik Johari (&quot;Acquirers&quot;) pursuant to and in accordance with regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 2011, as amended (Regulations), pursuant to and in compliance, amongst others Regulations 3(1) and 4 of the SEBI (SAST) Regulations, 2011, for the purpose of the public announcement, equity shareholders mean all the equity shareholders of the Target Company excluding the parties to the SPA.&lt;br/&gt;&lt;br/&gt;Offer Details:&lt;br/&gt;&lt;br/&gt;Offer Size: The Acquirers are hereby making a mandatory Open Offer in terms of SEBI (SAST) Regulations, 2011 to the equity shareholders of the Target Company to acquire up to 8,07,402 (Eight Lacs Seven Thousand Four Hundred and Two Only) fully paid up equity shares (Offer Size) bearing a face value of Rs. 10.00/- each representing 25.89% of the total issued, subscribed, paid up and voting capital of the Target Company pursuant to Share Purchase Agreement (SPA) dated September 02, 2014.&lt;br/&gt;&lt;br/&gt;Price/ consideration : An offer price of Rs. 2.75/- (Rupees Two and Seventy Five Paise Only) per fully paid up equity share of Rs. 10.00/- each of the Target Company (Offer Price) will be offered to the equity shares tendered in the Offer. Assuming full consideration, the total consideration payable by the Acquirer will be Rs. 22,20,356/- (Rupees Twenty Two Lacs Twenty Thousand Three Hundred and Fifty Six Only) (Offer Consideration)
View all announcements for SARDA PAPERS LTD. Source: BSE India