GG Automotive - Post Offer Status
Ashika Capital Ltd (”Manager to the Offer”) for & on behalf of Hakeem Auto Ltd (”Acquirer”) has issued this Post Offer Public Announcement to the shareholders of GG Automotive Gears Ltd (”Target Company”), which is in continuation of & should be read in conjunction with the Public Announcement (PA) dated December 27, 2006 & December 10, 2007, in terms of Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto (the “Regulations”), to acquire upto 15,83,300 equity shares of Rs 10/- each representing 20% of the voting capital of the Target Company payable in cash whose details are as under:
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Particulars Amount (Rs)
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Offer Price Per Share 5.35
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Add: Interest on delay payment to all the Shareholders whose
Shares has been accepted 0.45
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5.80
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Add: Interest to Shareholders who were holding shares on
February 03, 2003 & continue to hold the shares on
the closure date of the Offer & whose shares
have been accepted. 3.50
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TOTAL 9.30
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2. Details of the Acquisition:
------------------------------------------------------------------------------------- Item Proposed in the Actuals offer document ------------------------------------------------------------------------------------------ 1. Offer Price Rs 9.30 Rs 9.30 2. Shares acquired in the 15,83,300 (20.00%) 2,06,861 (2.62%) open offer 3. Post offer Shareholding 42,76,466 (54.02%) 29,00,027 (36.64%) of Acquirer(S) ------------------------------------------------------------------------------------------
