TCM - Post Offer Status
Systematix Corporate Services Ltd (”Manager to the Offer”) on behalf of Mr. Joseph Varghese, Mr. George Varghese & Mr. Thirugnanam (”Acquirers”) has issued this Post offer Public Announcement to the Shareholders of TCM Ltd (”Target Company”), which is in continuation of and should be read in conjunction with the Public Announcement (”PA”) dated February 09, 2007 & March 15, 2008, in terms of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (”Regulations?), to acquire upto 679,807 equity shares of Rs 10/- each representing 20% of the Voting capital of the Target Company at a price of Rs 6.75/- (including interest of Re 0.83) (”Offer Price”) payable in cash are as under.
| Sr. No. |
Item |
Proposed in the Offer Document | Actuals | ||
| 1. | Offer Price (Fully Paid-up Equity shares) | Rs 6.75 per share | Rs 6.75 per shares | ||
| 2. | Shareholding of Acquirer(s) before MOU / PA | Number | (%) | No | % |
| 862,032 | 25.36% | 862,032 | 25.36% | ||
| 3. | Shares acquired by way of MOU or Market Purchases | Nil | Nil | Nil | Nil |
| 4. | Shares acquired in the open offer | 679,807 | 20.00% | 33,156 | 0.98% |
| 5. | Size of Open Offer (No. of shares multiplied by Offer price per share) | Rs 45,88,697 | Rs 2,23,803 | ||
| 6. | Shares acquired after PA but before 7 working days prior to closure date, if any | Nil | Nil | Nil | Nil |
| 7. | Post offer Shareholding of the Acquirer(s) (2+3+4+6) | 1,541,839 | 45.36% | 895,188 | 26.34% |
| 8 | Pre & Post offer share holding of Public | Pre Offer | Post Offer | Pre Offer | Post Offer |
| No of Shares: | 25,37,003 | 18,57,196 | 25,37,003 | 25,03,847 | |
| Percentage: | 74.64% | 54.64% | 74.64% | 73.66% | |
Interest of Re. 0.83 per share has been calculated for the delay in payment of consideration
