Sri Ramakrishna Mills - Post Offer Status
Fedex Securities Ltd (”Manager to the Offer”) on behalf of Sri R Doraiswami, Smt D Ranganayaki, Sri D Lakshminarayanaswamy, Smt L Nagaswarna, Smt L Suhasini & Smt L Swathy (”Acquirers”), has issued this Post Offer Public Announcement to the shareholders of Sri Ramakrishna Mills Coimbatore Ltd (”Target Company”), which is in continuation of, and should be read in conjunction with, the Public Announcement (”PA”) dated January 30, 2008, in compliance with SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto.
| Sr. No | Details of Acquisition | Proposed in Letter of Offer | Actuals | ||
| 1 | Offer Price (Fully Paid up) | Rs 20.60 | Rs 20.60 | ||
| 2 | Shareholding of the Acquirers prior to Public Announcement (PA) | 5,56,032 (13.96%) | 5,56,032 (13.96%) | ||
| 3 | Shares acquired after PA by Exercise of Warrants @ | 21,35,000 (29.99%) | 21,35,000 (29.99%) | ||
| 4 | shares acquired in Open Offer @ | 14,23,666 (20%) | 1,10,195 (1.55%) | ||
| 5 | Size of the Open Offer (no. of shares X Offer Price) | Rs 2,93,27,520/- | Rs 22,70,017/- | ||
| 6 | Shareholding of other Promoter group Shareholders prior to Public Announcement (PA) (excluding Acquirers) | 10,95,960 (27.51%) | 10,95,960 (15.40%) @ | ||
| 7 | Shares if any acquired after PA but 7 working days prior to closure of Offer Price of shares acquired No of Shares acquired % of Shares acquired |
Nil NA NA NA |
|||
| 8 | Post Offer shareholding of Acquirers (There are no PAC) @ | 41,14,698 (57.80%) | 28,01,227 (39.35%) | ||
| 9 | Post Offer Shareholding of Other Promoter Group Shareholders (Excluding Acquirers) | 10,95,960 (27.51%) | 10,95,960 (15.40%) @ | ||
| 10 | Post Offer shareholding of Promoter Group (including Acquirers) @ | 52,10,658 (73.20%) | 38,97,187 (54.75%) | ||
| 11 | Pre & Post offer Shareholding of Public | Pre Offer | Post Offer @ | Pre Offer | Post Offer @ |
| Fully Paid Shares | 23,31,338 (58.53%) | 19,07,672 (26.80%) | 23,31,338 (58.53%) | 32,21,143 (45.25%) | |
| 12 | Date of dispatch of consideration and delay if any | Thursday, April 17, 2008. No delay in dispatch. No Interest is due and payable on account of delay in dispatch. | |||
| 13 | Position of Escrow Account | The amount held in Escrow Account, to the extent of Rs 22,70,017/- (less than 90% of Escrow Deposit) transferred to Special Account on April 15, 2008 towards payment of consideration. A sum of Rs 7.35 lacs, being 10% of the Escrow Deposit held in a new Escrow Account with lien in favour of Merchant Banker. Balance released to Acquirers. | |||
| 14 | Status of Investor complaints | No complaints from any shareholders of Target Company | |||
@ The percentage are worked out on expanded Capital after exercise of Warrants allotted on a preferential allotment basis (the post offer paid up Capital)
