Hacked by islam_Bey imhatimi.org

Ind Global Corporate Finance Pvt Ltd (”Manager to the Offer”), on behalf of Sahasra Investments Pvt Ltd (”Acquirer”) along with Mr. G Bala Reddy & Mrs. G Velangini Mary (PACs) has issued this Post Offer Public Announcement to the equity shareholders of Softpro Systems Ltd (SSL) (”Target Company”), which is in continuation of, and should be read in conjunction with, the Public Announcement (”PA”) released on November 06, 2007 and Corrigendum to the Public Announcement (Corrigendum) released on February 22, 2008 under Regulations 10 and 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 & subsequent amendments thereto, to acquire upto 12,00,000 equity shares of Rs 10/- each representing 20% of the voting equity share capital of the Target Company are as under:

Details of the Acquisition:



Sr. No.

  Particulars

Proposed in the     Offer Document
Actuals


1.
Offer Price
    Fully Paid-up  shares
Partly   Paid-up  shares

      Rs. 150/-
    Rs. 110/-

      Rs. 150/-
    Rs. 110/-


2.
Shareholding of Acquirers     & PAC before         signing Share Purchase Agreement  (No & %)
2,90,000 (4.83%)
2,90,000 (4.83%)


3.
Shares acquired by way of          Share Purchase Agreement (No & %)
24,97,870 (41.63%)
24,97,870 (41.63%)


4.
Shares acquired in the Open Offer (No & %) 
            12,00,000 (20.00%)
            2,250 (0.0375%) [1450 fully paid up shares & 800 partly paid-up shares]


5.
Size of the Open Offer (No. of shares multiplied     by Offer price per share)
    Rs. 18,00,00,000/- 
Rs. 3,05,500/- [1450 shares @ Rs. 150/- & 800 shares @     Rs.110/-]


6.
Shares acquired after     the PA but before 7 working     days prior to closure date, if any (No & %) 
Nil
Nil


7.
Post offer Shareholding of     the Acquirers (No     & %) (2+3+4+6)
39,87,870 (66.46%)
27,90,120 (46.50%)


8.
Pre & Post Offer shareholding of Public (No &     %)*
Pre Offer
Post Offer
Pre Offer
Post Offer


32,12,130 (53.54%)
20,12,130 (33.54%)
32,12,130 (53.54%)
32,09,880 (53.50%)




* Includes 4,04,304 (6.74%) equity shares held by the Promoter group of the Target Company. Pursuant to change in management control, the shares held by the promoter group of the Target Company will form part of public shareholding.

Tags: Softpro Systems

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