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Updates on Delisting Offer

| Updated on June 09, 2011 Published on June 09, 2011

Kotak Mahindra Capital Company Ltd ("Manager to the Offer") on behalf of Shri Karsanbhai K Patel, Smt. Shantaben K Patel & M/s Kulgam Holdings Pvt Ltd ("Acquirers"), has informed this Public Announcement to the Equity shareholders of Nirma Ltd ("Target Company"/"Company"),

In respect of the acquisition and delisting of the fully paid-up equity shares of the Company in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 ("SEBI Regulations").
BSE vide its dated March 10, 2011 and NSE vide Its dated March 10, 2011 (BSE and NSE together as "Stock Exchanges") informed their members about discontinuation of trading of the equity shares of the Company with effect from March 24, 2011 and the delisting of equity shares with effect from March 31,2011.

Subsequently, the Acquirers had issued a public announcement on March 30, 2011 ("Exit Offer PA") that appeared on March 31, 2011 in newspapers Informing the shareholders of the Company that the mandatory exit window period would begin on March 31, 2011 (date of delisting as mentioned in Circular of Stock Exchanges dated March 10, 2011) and would be opened until March 30,2012 ("Exit Offer").

On March 30,2011, the Stock Exchanges issued notices that pursuant to the directions from the Securities and Exchange Board of India ("SEBI"), the delisting of the equity shares of the Company will be kept in abeyance until further instructions.

SEBI Regulations require that the Exit Window to be made available to the remaining public shareholders for at least a period of one year from the date of delisting. Since, the delisting has been kept in abeyance, the Exit Window has been deferred.

Terms used but not defined In this Announcement shall have the same meaning as assigned in the PA and/or the Exit Offer PA.

Source : BSE - >www.bseindia.com

Published on June 09, 2011
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