Seahorse Hospitals - Post Offer Status
Friday, May 16th, 2008Religare Capital Markets Ltd (”Manager to the Offer”) on behalf of Sri Kavery Medical Care (Trichy) Pvt Ltd (”Acquirer”) has issued this Post Offer Public Announcement to the shareholders of Seahorse Hospitals Ltd (”Target Company”), which is in continuation of & should be read in conjunction with the Public Announcement (”PA”) dated February 12, 2008,
Corrigendum to PA dated April 05, 2008, the Letter of Offer dated March 31, 2008.
Details of Acquisition:
| Sr. No. |
Item |
Proposed in the Letter of Offer | Actual | ||
| 1. | Offer Price | Rs 10/- per fully paid up equity share | Rs 10/- per fully paid up equity share | ||
| 2. | Shareholding of the Acquirer (No & %) before the SPA / PA | Nil | Nil | ||
| 3. | Shares being acquired by way of SPA (No. & %) | 42,59,635 (33.95%) | 42,59,635 (33.95%) | ||
| 4. | Shares acquired in the open offer (No & %) | 25,09,000 (20%) | 7,42,510 (5.92%) | ||
| 5. | Size of the Open Offer (No. of shares multiplied by Offer price per share) | Rs 2,50,90,000 | Rs 74,25,100 | ||
| 6. | Shares acquired after PA but before 7 working days prior to closure date, if any (No. & %)
Price of the shares acquired |
Nil NA |
Nil NA |
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| 7. | Post offer Shareholding of Acquirer (No & %) (2+3+4+6) | 67,68,635 (53.95%) | 50,02,145 (39.87%) | ||
| 8. | Pre & Post offer shareholding of Public (No. & %) | Pre Offer | Post Offer | Pre Offer | Post Offer |
| 82,83,065 (66.03%) | 57,76,365 (46.05%) | 82,83,065 (66.03%) | 75,42,855 (60.13%) | ||
| 9. | Status of the escrow account whether released or not |
The amount held in the Escrow Account to the extent of 90% (Rs 56,70,000/-)were transferred to Special Account on May 06, 2008 towards payment of consideration. The balance 10% of funds in the escrow account will be released shortly to the Acquirer |
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| 10 | Payment of interest, if any, to the shareholders along with the details thereof. | NA | |||
| 11 | Status of investors complaints received, if any. |
All the shareholder’s queries regarding the Offer have been replied to and there are no pending complaints regarding the offer as on date |
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All the capitalized terms not defined herein, shall have the same meaning as ascribed to them in the Letter of Offer.