GP Electronics - Post Offer Status
Yes Bank Ltd (”Manager to the Offer”) on behalf of Aarti Management Consultancy Pvt Ltd, Aditi Management Consultancy Pvt Ltd and Anjoss Trading Company Pvt Ltd (”Acquirers”) has issued this Post Offer Public Announcement to the shareholders of GP Electronics Ltd (”Target Company”), which is in continuation of, and should be read in conjunction with, the Public Announcement (”PA”) dated November 28, 2007, Letter of Offer dated January 15, 2008 and Corrigendum to PA dated January 25, 2008, pursuant to & in compliance with among others, Regulations 10 and 12 of Chapter III of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 & subsequent amendments thereto[”SEBI Takeover Regulations”/”Regulations”].
Details of the Acquisition:
| Sr. No. |
Particulars |
Proposed in the Letter of Offer | Actual | ||
| 1 | Offer Price (Rs.) | 20.00 | 20.00 | ||
| 2 | Shareholding of Acquirer before SPA / PA (No & %) | Nil | Nil | ||
| 3 | Shares acquired by way of SPA (No & %) | 3,010,807 (61.95%) | 3,010,807 (61.95%) | ||
| 4 | Shares acquired in the Open Offer (No & %) | 9,72,173 (20.00%) | 7,130 (0.15%) | ||
| 5 | Size of the Open Offer (No. of shares multiplied by Offer price per share) | Rs 1,94,43,460.00 | Rs 1,42,600.00 | ||
| 6 | Shares acquired after PA but before 7 working days prior to offer closure date (No & %) | Nil | Nil | ||
| 7 | Post offer Shareholding of Acquirers (No & %) (2+3+4+6) | 39,82,980 (81.94%) | 30,17,937 (62.09%) | ||
| 8 | Pre & Post Offer shareholding of Public (No & %) | Pre Offer | Post Offer | Pre Offer | Post Offer |
| 18,50,056 (38.05%) | 8,77,883 (18.06%) | 18,50,056 (38.05%) | 18,42,926 (37.91%) | ||
| 9 | Status of Escrow Account, whether released or not | A sum of Rs. 1,42,600/- was transferred from Cash Escrow Account to Special Account on February 22, 2008 for the purpose of making payment towards 7,130 valid equity shares accepted from 50 eligible resident public shareholders. Balance lying in Cash Escrow Account was released to the Acquirers on March 11, 2008. | |||
| 10 | Payment of interest, if any, to the shareholders along with details thereof | There was no delay in making payment to the eligible shareholders. Therefore the question of paying interest did not arise. | |||
| 11 | Status of Investor complaints received, if any | No investor complaints are received or pending | |||
