Bemco Hydraulics - Post Offer Status
Microsec Capital Ltd (”Manager to the Offer”) on behalf of Mohta Capital Pvt Ltd (”Acquirer”) along with U D Finnvest Pvt Ltd, Amarshakti Finvest & Credit Pvt Ltd, Sri Ramachandra Enterprises Pvt Ltd, Mr. Madan Mohan Mohta, Mr. Anirudh Mohta and Mrs. Urmila Devi Mohta (”Persons Acting in Concert” or “PAC”) has issued this Post Offer Public Announcement to the Shareholders of Bemco Hydraulics Ltd (”Target Company”) which is in continuation of, and should be read in conjunction with, the Public Announcement (”PA”) dated March 22, 2007 and March 06, 2008 in terms of Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto (”Regulations”) to acquire up to 2,89,340 equity shares of Rs 10 each representing 20% of the fully expanded voting capital of Target Company at a price of Rs 15.25 per fully paid-up share (”Offer Price”) payable in Cash are as under.
| Sr. No. |
Item |
Proposed in the Offer Document | Actuals | ||
| 1. | Offer Price | Rs 15.25 per share | Rs 15.25 per share | ||
| 2. | Shareholding of Acquirer along with PACs before Preferential Allotment | No | % | No | % |
| 215,711 | 14.91% | 215,711 | 14.91% | ||
| 3. | Shares acquired in Preferential Allotment | 800,000 | 55.30% | 800,000 | 55.30 |
| 4. | Shares acquired in the open offer | 289,340 | 20.00% | 8,966 | 0.62% |
| 5. | Size of Open Offer (No. of shares multiplied by Offer price per share) | Rs 44,12,435.00 | Rs 1,36,731.50 | ||
| 6. | Shares acquired after PA but before 7 working days prior to closure date, if any | Nil | Nil | Nil | Nil |
| 7. | Post offer Shareholding of the Acquirer including PACs (2+3+4+6) | No | % | No | % |
| 1,305,051 | 90.21% | 1,024,677 | 70.83% | ||
| 8. | Post Offer shareholding of Promoter Group including Acquirers | 1,372,174 | 94.85% | 1,091,800 | 75.47% |
| 9. | Pre & Post offer share holding of Public (No. & %) | Pre Offer | Post Offer | Pre Offer | Post Offer |
| No of Shares: | 363,866 | 74,526 | 363,866 | 354,900 | |
| Percentage: | 25.15% | 5.15% | 25.15% | 24.53% | |
Percentage shareholding has been calculated on fully expanded paid up capital of the Company pursuant to preferential allotment.
