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Sunday, May 26, 2002

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Sampark Trading: Accept

SUBSEQUENT to an agreement entered into with the promoters of the company, the acquirers have made a cash offer to the shareholders of Sampark Trading and Finance Company to acquire 20 per cent of the equity at Rs 12 per share. The acquirers, under the agreement, have agreed to purchase 46.48 per cent of the share capital at Rs 10 per share, resulting in a change in control.

Recommendation: The offer can be accepted, as it could be a rare opportunity to exit the stock. The stock has not been traded on the stock exchange for the last three years and the return on investment for the last three years have been poor. The offer price (Rs 12) is higher than the negotiated price (Rs 10) and the book value (Rs 9.82 per share). As the stock is illiquid, one may use this opportunity to liquidate holdings in the company.

Systematix Corporate Services is the manager to the offer. The offer opens on May 10, 2002 and closes on June 8, 2002.

BL Research Bureau

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