Choice International - Open Offer
Fedex Securities Ltd (”Manager to the Offer”), on behalf of Shri. Sunil Kumar Patodia & Smt. Vinita Patodia (”Acquirers”), and Sunil Chothmal Patodia (HUF) (”PAC”) has issued this Public Announcement (”PA”) to the equity Shareholders of Choice International Ltd (”Target Company”), pursuant to and in compliance with Regulations 10 & 12 of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 (SEBI (SAST) Regulations 1997/ the Regulations) and subsequent amendments thereto.
The Offer:
The Acquirers are making an Open Offer to public shareholders (i.e. shareholders other than the Acquirers, Parties to the Agreement & Promoter group shareholders of Target Company) of the Target Company to acquire up to 8,00,960 equity shares of Rs 10/- each, at a price of Rs 13.75 (Rupees Thirteen Paise Seventy Five Only) representing 20.00% of issued, subscribed, paid up & voting capital of the Target Company. The Offer is at a price of Rs 13.75 (Rupees Thirteen Paise Seventy Five only) per Equity shares fully paid up (”the Offer Price”), payable in cash ( “the Offer”), subject to the terms and conditions mentioned in the PA.
Schedule of Activities:
Specified Date - June 20, 2008
Date of Opening of the Offer - July 16, 2008
Date of Closing of the Offer - August 04, 2008
Tags: Choice International