Fusion Fittings - Post Offer Status
Chartered Capital & Investment Ltd (”Manager to the Offer”) on behalf of Experienced Hi-Tech Consultancy Services Pvt Ltd & Vasundhra Technologies (India) Pvt Ltd (”Acquirers”) has issued this Post Offer Public Announcement to the shareholders of Fusion Fittings India Ltd (”Target Company”), Which is in continuation of & should be read in conjunction with the Public Announcement (”PA”) published on March 24, 2008 & Letter of Offer dated May 02, 2008 in compliance with Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto.
Details of Acquisition:
| Sr. No | Item | Proposed in the Offer Document | Actual | ||
| 1 | Offer Price | Re 1.00 | Re 1.00 | ||
| 2 | Shareholding of Acquirer and PACs before MOU/PA/Preferential allotment |
No of Shares | % | No of Shares | % |
| Nil | NA | Nil | NA | ||
| 3 | Shares agree to be acquired by Acquirers in terms of Share Purchase Agreement | No of Shares | % | No of Shares | % |
| 1819300 | 33.16 | 1819300 | 33.16 | ||
| 4 | Shares acquired in the Open Offer | No of Shares | % | No of Shares | % |
| 1097160 | 20.00 | 425100 | 7.75 | ||
| 5 | Size of the Open Offer (Number of shares multiplied by Offer Price per Share) | Rs. 10,97,160.00 | Rs. 4,25,100.00 | ||
| 6 | Shares acquired after PA but before 7 working days prior to Closure Date:- Price of the Share Acquired No of Share Acquired % of Share acquired |
Nil Nil Nil |
Nil Nil Nil |
||
| 7 | Post Offer Shareholding of Acquirers (2+3+4+6) | No of Shares | % | No of Shares | % |
| 2916460 | 53.16 | 2244400 | 40.91 | ||
| 8 | Pre & Post Offer Shareholding of Public | Pre Offer | Post Offer | Pre Offer | Post Offer |
| 3666500 (66.84%) | 2569340 (46.84%) | 3666500 (66.84%) | 3241400 (59.09%) | ||
Tags: Fusion Fittings