Bosch Chassis - Delisting Offer
Citigroup Global Markets India Pvt Ltd (”Manager to the Delisting Offer”) on behalf of Robert Bosch GmbH (”Acquirer”) has issued this Public Announcement (”PA”) to the equity shareholders of Bosch Chassis Systems India Ltd (”Target Company”), pursuant to Clause 7 of the Securities & Exchange Board of India (Delisting of Securities) Guidelines, 2003 (the “Delisting Guidelines”), in respect of the proposed acquisition and delisting of the fully paid-up equity shares (”Shares”) of Target Company under the Delisting Guidelines (the “Delisting Offer”).
The Offer:
The Acquirer is making this PA to acquire, subject to the conditions mentioned in para 30 of this PA, upto 4,158,906 equity shares of Rs 10 each (”Equity Shares”) representing 20.0% of the fully paid-up equity share capital of Company under the Delisting Guidelines & delist the Shares from BSE & NSE. The Acquirer is the ultimate holding company of Robert Bosch LLC & Robert Bosch Investment Nederland B.V., the promoters of the Company, who collectively hold 80.0% of the total issued share capital of the Company.
The Shareholders of the Company have granted their approval for a voluntary delisting of the Shares of the Company from the Stock Exchanges, by requisite majority, at an Extra-ordinary general meeting held on February 27, 2008.
The Floor Price of the Delisting Offer determined in accordance with Clause 8(2) of the Delisting Guidelines is Rs 415 (”Floor Price”), which is the average of the 26 weeks traded price quoted on the stock exchange where the shares are most frequently traded.
The Acquirer shall announce the Final Price, the Exit Price (if any) & its decision to either accept or reject the Final Price or accept the Shares tendered upto & inclusive of the Exit Price in accordance with the timetable set out in this PA.
Schedule of Activities:
Public Announcement - February 29, 2008
Bid Opening Date (10.00 am) - March 24, 2008
Bid Closing Date (3.00 pm) - March 28, 2008
Announcement of Acquirer’s Acceptance/Rejection of Final Price or Announcement of Exit Price - April 01, 2008
Final Settlement Date for Shares in Dematerialised form - April 02, 2008
Tender Offer for holders of physical certificate opens - April 03, 2008
Last day for Shareholders of Physical Shares to tender their Shares - April 17, 2008
Final Settlement Date for Shares in Physical Form - April 30, 2008
Tags: Bosch Chassis