Stovec Industries - Post Offer Status
Ambit Corporate Finance Pvt Ltd (”Manager to the Offer”) on behalf of Stork Prints Group BV (”SPGBV” or the “Acquirer”) & Stork Prints BV (”SPBV”, the “Person Acting in Concert” or “PAC”) has issued this Post Offer Public Announcement to the equity shareholders of Stovec Industries Ltd (”Target Company”), which is in continuation of & should be read in conjunction with the Public Announcement (”PA”) dated January 16, 2008 (the “PA”), Corrigendum to PA dated February 29, 2008 (the “First Corrigendum to PA), Corrigendum to PA dated May 07, 2008 (the “Second Corrigendum to PA) and the Letter of Offer dated May 07, 2008. The terms used, but not defined in the this Post Offer Announcement, will have the same meaning assigned to them in the other announcement referred above and the Letter of Offer.
Details of Acquisition:
| Sr. No. | Item | Proposed in the Offer Document | Actuals | ||
| 1 | Offer Price | Rs 225.75 per Share | Rs 225.75 per Share | ||
| 2. | Share holding of the Acquirer and PAC (No. & %) before PA | 10,64,889 (51%) | 10,64,889 (51%) | ||
| 3. | Shares acquired by way of MOU or market purchases (No. & %) | Not Applicable | Not Applicable | ||
| 4. | Shares acquired in the Offer* (No & %) | 4,17,604 (20%) | 4,17,604 (20%) | ||
| 5. | Size of the Offer (No. of shares multiplied by offer price per share) | Rs 9,42,74,103 (assuming full acceptance) |
Rs 9,42,74,103 | ||
| 6. | Shares acquired after P.A. but before 7 working days prior to closure date, if any (No & %) |
No Shares were acquired during this period |
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| 7 | Post offer share holding of Acquirer and PAC after the acceptance of validly tendered Shares (No & %) (2+3+4+6)* | 14,82,493 Shares (71%) (assuming full acceptance) | 14,82,493 shares (71%) | ||
| 8. | Pre & Post offer Shareholding of Public (No & %)* | Pre Offer | Post Offer | Pre Offer | Post Offer |
| 7,26,548 shares (34.80%) | 6,05,523 shares (29%)# | 7,26,548 shares (34.80%) | 6,05,523 shares (29%) | ||
* The shares acquired pursuant to the open offer are in the process of being transferred to SPBV# Please refer to the note below para 6.21 as disclosed in the Letter of Offer
