STYROLUTION ABS (INDIA) LTD. - Updates on Open Offer

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STYROLUTION ABS (INDIA) LTD. - Updates on Open Offer

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17 Nov 2014
Kotak Mahindra Capital Company Ltd ("Manager to the Open Offer") on behalf of Styrolution South East Asia Pte Ltd. (the Acquirer) along with INEOS Styrolution Holding GmbH (PAC 1) and Styrolution Group GmbH (PAC2) (PAC 1 and PAC 2 are collectively referred to as PACs) has informed BSE about this Detailed Public Statement ("DPS") being issued to the Equity Shareholders of Styrolution ABS (India) Ltd (the Target Company), in compliance with Regulation 13(4) and other applicable Regulations of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulation, 2011, as amended (the "SEBI (SAST) Regulation") pursuant to the public announcement dated July 04, 2014 ("PA") filed on July 04, 2014 with the BSE Ltd ("BSE") and the National Stock Exchange of India Ltd ("NSE"), (together the "Stock Exchanges") and on July 07, 2014 with each of the Securities and Exchange Board of India ("SEBI") and the Target Company at its registered office, in terms of Regulation 5(1) of the SEBI (SAST) Regulations.<br/><br/>Details of the Offer :<br/><br/>The Acquirer, together with PACs, are making this Open Offer to all the equity shareholders of the Target Company, other than the Acquirer, PACs and the parties to any agreement with the Acquirer including persons deemed to be acting in concern with such parties (the "Equity Shareholders"), to acquire up to 4,396,407 (Four Million Three Hundred Ninety Six Thousand Four Hundred Seven Only) Equity shares, representing 25% of the total paid-up equity share capital of the target Company, as of the tenth working day from the closure of the tendering period.<br/><br/>This Open Offer is being made at a price of Rs 518.99 (Indian Rupees Five Hundred Eighteen and Ninety Nine Paise) ("Offer Price") per Equity Shares.<br/><br/>Tentative Schedule of the Activity : <br/><br/>Identified Date : December 10, 2014<br/><br/>Date of Commencement of Tendering Period (Open Offer Opening Date) : December 24, 2014<br/><br/>Date of Expiry of Tendering Period (Open Offer Closing Date) : January 07, 2015
View all announcements for STYROLUTION ABS (INDIA) LTD.	Source: BSE India

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