KLG Capital - Open Offer
Networth Stock Broking Ltd (”Manager to the Offer”) on behalf of Awaita Properties Pvt Ltd (”Acquirer”) has issued this Public Announcement to the equity shareholders of KLG Capital Services Ltd (”Target Company”), pursuant to and in compliance with among others, Regulation 10 read with Regulation 12 of Chapter II of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto (”SEBI (SAST) Regulations, 1997″).
The Offer
The Acquirer is hereby making a public announcement of the Offer to acquire upto 640,480 equity shares of Rs 10/- each, representing 20.00% of the issued, subscribed & paid-up equity share capital of the Target Company, from the public shareholders of the Target Company, at a price of Rs 37.50/- per share (”Offer Price”) payable in cash subject to the terms & conditions mentioned in PA. Equity shares that would be tendered in the valid form in terms of this Offer will be transferred in favour of the Acquirer upon the closure of the Open Offer.
Due to the Operation of Regulation 2(1)(e) of SEBI Takeover Regulations, there may be persons who could be deemed to be persons acting in concert. However, they are not acting in concert with the Acquirer for the purpose of this Offer.
Schedule of Activities:
Specified Date - March 28, 2008
Date of Opening of the Offer - April 25, 2008
Date of Closing of the Offer - May 16, 2008
Tags: KLG Capital