SHIVA CEMENT LTD. - Open Offer

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SHIVA CEMENT LTD. - Open Offer

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11 Jan 2017
JM Financial Institutional Securities Limited ("Manager to the Offer") has informed BSE that JSW Cement Limited (the "Acquirer") together with Sun Investments Private Limited ("PAC 1") and Reynold Traders Private Limited ("PAC 2") (collectively "PACs") has made an open offer to the public equity shareholders of Shiva Cement Limited ("Target Company"), excluding the parties to the SPA (as defined in the attached public announcement) and persons deemed to be acting in concert with such parties including the PACs (the "Public Shareholders") to acquire up to 62,400,000 fully paid-up equity shares of face value of Rs. 2 each of the Target Company (the "Offer Shares"), constituting 32.00% of the total fully diluted voting equity share capital expected as of the 10th working day from the closure of the tendering period for the Offer of the Target Company at a price of Rs. 14 per Offer Share (the "Offer Price") aggregating to total consideration of Rs. 873,600,000 (the "Offer Size"), in cash, subject to the terms and conditions mentioned in this public announcement ("Public Announcement"), the detailed public statement (the "DPS") and the letter of offer (the "LOF") that are proposed to be issued in accordance with the SEBI (SAST) Regulations.<BR><BR>The Offer is being made in accordance with Regulation 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 as amended, ("SEBI (SAST) Regulations").<BR><BR>Further, JM Financial Institutional Securities Limited has submitted to BSE a copy of the Public Announcement in this regard for the Offer.
View all announcements for SHIVA CEMENT LTD.	Source: BSE India

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