Neha International - Post Offer Status
Ashika Capital Ltd (”Manager to the Offer”) on behalf of Mr. G Vinod Reddy (”Acquirer”) and Dr. G Deepthi Reddy (”Person Acting in Concert” or “PAC”) has issued this Post Offer Public Announcement to the shareholders of Neha International Ltd (”Target Company”), which is in continuation of & should be read in conjunction with the Public Announcement (”PA”) dated December 07, 2007 & May 31, 2008, in terms of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulation, 1997 and subsequent amendments thereto (”Regulations”), to acquire upto 36,02,664 equity shares of Rs 10/- each representing 20% of the fully expanded Voting Capital of the Target Company (including the allotment of Shares as Warrants under Preferential Issue), at a price of Rs 43.60 per share (”Offer Price”) payable in cash are as under:
Details are as under:
| Sr. No | Item | Proposed in the Offer Document | Actuals | ||
| 1 | Offer Price | Rs 43.60 per Fully Paid-up Share | Rs 43.60 per Fully Paid-up Share | ||
| No of Shares | % | No of Shares | % | ||
| 2 | Shareholding of Acquirer and PAC before MOU / PA | 8,70,614 | 6.33 | 8,70,614 | 6.33 |
| 3 | Shares acquired by way of MOU or Market Purchases | 41,14,161 | 29.89 | 41,14,161 | 29.89 |
| 4 | Shares acquired in the Open Offer | 36,02,664 | 26.17 | 2,160 | 0.01 |
| 5 | Size of the Open Offer (No. of shares multiplied by Offer Price per Share) | Rs. 15,70,76,150.40 | Rs. 94,176/- | ||
| 6 | Shares acquired after PA but before 7 working days prior to Closure Date, if any | Nil | Nil | ||
| 7 | Post Offer Shareholding of Acquirer & PAC (2+3+4+6) | 85,87,439 | 62.39 | 49,86,935 | 36.23 |
| 8 | Post Offer Shareholding of Promoter Group including Acquirer & PAC | 1,26,60,687 | 91.98 | 90,60,183 | 65.83 |
| 8 | Pre & Post Offer Shareholding of Public | Pre Offer | Post Offer | Pre Offer | Post Offer |
| 47,05,295 (34.19%) | 11,02,631 (8.02%) | 47,05,295 (34.19%) | 47,03,135 (34.17%) | ||
