Exedy India Limited - Updates on Delisting Offer

Ambit Corporate Finance Pvt Ltd ("Manager to the Offer") on behalf of EXEDY Corporation ("Acquirer"), has informed this Post Offer Public Announcement for the attention the public shareholders of Exedy India Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the Public Announcement dated December 06, 2011 and Letter of Offer dated December 16, 2011, in respect of the proposed acquisition and consequent delisting of the fully paid-up equity shares of the Target Company in accordance with Regulation 10 and other applicable provisions of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (the "Delisting Regulations") (hereinafter referred to as the "Delisting Offer" or the "Offer"), this announcement is being made to the Public Shareholders in terms of the Delisting Regulations and paragraph 13.5 of the Public Announcement.<br/><br/>The Public Shareholders should note the following:<br/><br/>The bidding period of the reverse book building process, during which the Public Shareholders were eligible to tender their Shares and place bids, commenced on January 24, 2012 and closed on January 31, 2012.<br/><br/>The Discovered Price determined from the reverse book building process as per the Delisting Regulations is Rs 350 per Share. The Acquirer has decided to accept and acquire all Offer Shares that have been validly tendered at prices up to and equal to Rs 350 per Share (the "Exit Price") for the Delisting Offer.<br/><br/>A total of 1,96,366 Shares have been validly tendered at or below the Exit Price. Post the acceptance of these Shares and completion of the acquisition, the shareholding of the Promoters of the Company would be 97.21% of Equity Capital of the Company. The Delisting Offer is thus deemed to be successful in accordance with regulation 17 of the Delisting Regulations.<br/><br/>After completion of the Delisting Offer, the Company would make applications to the BSE for delisting its Shares. Once the Shares have been delisted, all Public Shareholders whose Shares have not been acquired under the Delisting Offer, may offer their Shares to the Acquirer at the Exit Price for a period of one year following the date of the delisting. A separate letter in this regard will be sent to the remaining Public Shareholders and they will be required to submit the requisite documents to the Registrar to the Offer within the stipulated time as set out in such letter.<br/><br/>Consideration payable to the Public Shareholders whose Shares have been validly tendered and accepted by the Acquirer shall be dispatched on or before February 14, 2012.<br/><br/>Share certificates, for Bids which have not been accepted, will be dispatched to the respective shareholders by Speed / Registered Post, at the shareholders sole risk, on or before February 14, 2012. Further, Shares held in dematerialized form which have not been accepted will be credited back to the respective beneficiary account with their respective DP from where the Shares were credited to the Special Depository Account on or before February 14, 2012. Public Shareholders holding Shares in dematerialised form are requested to issue the necessary standing instruction for receipt of the credit, if any, in their DP account. Further, Public Shareholders should also ensure that their depository account is maintained till the Offer formalities are completed.<br/><br/>Unless the context requires otherwise, capitalized expressions herein have the same meanings as defined in the<br/>Public Announcement dated December 6, 2011 and Letter of Offer dated December 16, 2011.