Tonira Pharma - Post Offer Status
Imperial Corporate Finance & Services Pvt Ltd (”Manager to the Offer”) on behalf of Ipca Laboratories Ltd (Ipca) (”Acquirer”) and Kaygee Investments Pvt Ltd (KIPL) (PAC) Collectively referred as Acquirers has issued this Post Offer Public Announcement to the shareholders of Tonira Pharma Ltd (”Target Company”), which is in continuation of & should be read in conjunction with the Public Announcement (”PA”) dated November 02, 2007 and the subsequent Public Announcement dated March 19, 2008 and March 28, 2008 and the letter of offer dated March 15, 2008, pursuant to regulations 10 and 12 in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the “SEBI (SAST) Regulations”) in connection with the cash offer by the Acquirers to acquire upto 23,83,260 fully paid up equity shares of face value of Rs 10/- each of the Target Company representing 30.00% of voting equity shares capital at an Offer Price of Rs 29 per fully paid up equity share (the “Offer”)
Details of Acquisition:
| Sr No. | Item | Proposed in the Offer document | Actual | ||
| 1 | Offer Price | Rs 29 per fully paid up equity share | Rs 29 per fully paid up equity share | ||
| 2 | Shares agreed to be acquired by way of Preferential issue (No & %) | Nil | Nil | ||
| 3 | Share holding of acquirer (No. & %) before MOU/PA |
A) Ipca : Nil |
A) Ipca : Nil |
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| Total | 3,95,000 (4.97%) | 3,95,000 (4.97%) | |||
| 4 | Shares acquired by way of MOU or market purchases (No. & %) |
Under SPA: |
Under SPA: |
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|
Under Market Purchases |
Under Market Purchases |
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| Total | 7,24,223 (9.12%) | 15,83,754 (19.94%) | |||
| 5 | Shares acquired in the open offer (No & %) | A) Ipca : 23,83,260 (30.00%) B )KPIL : Nil |
A) Ipca : 9,82,054 (12.36%) B) KPIL : Nil |
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| Total | 23,83,260 (30.00%) | 9,82,054 (12.36%) | |||
| 6 | Size of the open offer (No. of shares multiplied by offer price per share) | Rs 6,91,14,540/- | Rs 2,84,79,566/- | ||
| 7 | Shares acquired after PA but before 7 working days prior to closure date, if any (No. & %) 7.1) Price of the shares acquired (Price Range) 7.2) No. of shares acquired 7.3) % of shares acquired |
Nil |
Rs 23.85 to Rs 28.50 |
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| 8 | Post offer share holding of acquirer (No. & %) (3+4+5) | A) Ipca : 31,07,483 (39.12%) B) KIPL :3,95,000 (4.97%) |
A) Ipca: 25,65,808 (32.30%) B) KIPL :3,95,000 (4.97%) |
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| Total | 35,02,483 (44.09%) | 29,60,808 (37.27%) | |||
| 9 | Pre & Post offer share holding of Public (No & %) | Pre offer | Post offer | Pre offer | Post offer |
| 55,47,491 (69.83%) | 31,64,231 (39.83%) | 55,47,491 (69.83%) | 47,61,793 (59.94%) | ||
