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CAROL INFO SERVICES LTD. - Updates on Delisting Offer
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07 Mar 2012
JM Financial Consultants Pvt Ltd (&quot;Manager to the Offer&quot;) on behalf of Khorakiwala Holdings and Investments Pvt Ltd (&quot;KHIPL&quot; or &quot;Acquirer&quot;) has informed this Announcement to the equity shareholders of Carol Info Services Limited (&quot;Target Company&quot;), in respect of the voluntary delisting of the equity shares (&quot;Equity Share&quot;) of the Target Company.&lt;br/&gt;&lt;br/&gt;This Announcement is in continuation to and should be read in conjunction with the Public Announcement (&quot;PA&quot;) published on January 02, 2012, the offer letter dated January 03, 2012 (&quot;Offer Letter&quot;), and the post offer public announcement published on January 25, 2012 (&quot;Post Offer Public Announcement&quot;).&lt;br/&gt;&lt;br/&gt;Capitalised terms used but not defined in this Announcement shall have the same meaning assigned to them as in the&lt;br/&gt;PA or the Offer Letter or the Exit Offer Letter.&lt;br/&gt;&lt;br/&gt;1. Intimation of Date of Delisting:&lt;br/&gt;&lt;br/&gt;Pursuant to the delisting offer made by the Acquirer to the public shareholders of the Company, JM Financial on behalf of the Company had applied to the Bombay Stock Exchange Ltd (&quot;BSE&quot;) on February 01, 2012 to delist Equity Shares of the Company from BSE and the Company had applied to National Stock Exchange of India Ltd (&quot;NSE&quot;) on February 01, 2012 to delist its Equity Shares from NSE.&lt;br/&gt;&lt;br/&gt;BSE, vide its notice dated February 27, 2012 and NSE, vide its circular dated February 27, 2012 have communicated that trading in the Equity Shares of the Company will be discontinued with effect from March 12, 2012 and the scrip of the Company will be delisted from the exchange records with effect from March 19, 2012 (&quot;Date of Delisting&quot;).&lt;br/&gt;&lt;br/&gt;The delisting of the Equity Shares means that they will no longer be traded on the BSE or the NSE and a liquid market for trading of the Equity Shares will cease to exist.&lt;br/&gt;&lt;br/&gt;2. Outstanding Equity Shares after delisting: &lt;br/&gt;&lt;br/&gt;In accordance with Regulation 21(1) of the Delisting Regulations, and as announced earlier in the Post Offer Public Announcement, the remaining Public Shareholders of the Company who did not or were not able to participate in the Reverse Book Building (RBB) process or who unsuccessfully tendered their equity shares in RBB process will be able to offer their Equity Shares to the Acquirer at the price of Rs. 165/- per equity share (&quot;Exit Price&quot;) for a period of one year starting from the Date of Delisting i.e. from March 19, 2012 to March 18, 2013 (&quot;Exit Period&quot;).&lt;br/&gt;&lt;br/&gt;The offer letters (&quot;Exit Offer Letter&quot;) in this regard shall be provided to the remaining Public Shareholders whose name appears in the register of members of the Company as on March 14, 2012.
View all announcements for CAROL INFO SERVICES LTD. Source: BSE India