Era Infra - Updates on Open Offer
Motilal Oswal Investment Advisors Pvt Ltd (”Manager to the Offer”) for and on behalf of Era Housing & Developers (India) Ltd (”EHDIL”) & Hi-Point Investment & Finance Pvt Ltd (”HPIFPL”) (”Acquirers”), Mr H S Bharana, Mr Brij Singh Bharana, Mr Dheeraj Singh Bharana, Ms Rashmi Bharana, Mrs Rekha Bharana, Mr Vaibhav Bharana, Mrs Kamlesh Bharana, Mr H S Bharana (HUF) & Era Exports (India) Ltd (”Persons Acting in Concerts” / “PACs”) has issued this corrigendum to Public Announcement to the shareholders of Era Infra Engineering Ltd (”Target Company”), which is in continuation of and should be read in conjunction with the Public Announcement (”PA”) dated December 17, 2007, pursuant to & in compliance with Regulations 11 (1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 as amended from time to time (the “SEBI (SAST) Regulations”) issued by the Securities and Exchange Board of India (”SEBI”).
The Shareholders of the Target Company are requested to note the following:
1. All GDR have been included for calculation of the Offer Size. the GDR holders are eligible to participate in the Open Offer provided they get it converted into equity shares before the date of closing of the offer.
2. None of the FCCBs allotted by the Company on January 24, 2007 has been converted into Equity Shares as on the date. Also, the Target Company has undertaken that none of the FCCBs would be converted into equity shares during the offer period.
3. The Revised Schedule of the Offer
------------------------------------------------------------------------------------------ Activity Original Schedule Revised Schedule ------------------------------------------------------------------------------------------ Specified Date December 18, 2007 December 21, 2007 Date of Opening of the Offer January 23, 2008 April 21, 2008 Date of Closing of the Offer February 11, 2008 May 10, 2008 -----------------------------------------------------------------------------------------
All other terms and conditions of the offer remain unchanged. The terms not defined in this Corrigendum Announcement shall have the same meaning assigned to them in the PA.
Tags: Era Infra