Updates on Buy back Offer

Amtek Auto Ltd has informed BSE about the Following:

D & A Financial Services (P) Ltd ("Manager to the Buyback") on behalf of Amtek Auto Ltd ("Target Company") has informed this Corrigendum to Public Announcement to the Equity Shareholders / Beneficial Owners of the equity shares of Amtek Auto Ltd the ("Target Company"/ "AAL"), which is in continuation of & should be read in conjunction with the Public Announcement ("PA") dated November 22, 2011.

This Corrigendum ("Corrigendum") to the Public Announcement("PA"), is being issued in connection with the offer
for buyback of Equity Shares from the open market through the electronic trading mechanism of the Stock Exchanges by AAL pursuant to letter dated January 09, 2012 received from the Securities and Exchange Board of India.

The Equity Shareholders/ Beneficial Owners of Equity Shares of AAL are requested to take the note of following modifications / changes made to the PA:

The buy back will commence from January 16, 2012 instead of December 08, 2011 and para 3 of the public announcement be read accordingly.

The maximum no. of shares to be bought back under the buy back offer would be 14550000 equity shares and para 1.1 of the public announcement should be read accordingly.

The minimum no. of shares to be bought back under the buy back offer as disclosed at para 1.4 of the public announcement should be read as 3650000 in place of 3000000 equity shares.

During the financial year 2011-12, the promoters and promoter group of AAL have acquired 16800000 equity shares representing 4.86% of the enhanced paid up shares capital of AAL by way of conversion of warrants and thereby the shareholding of promoter and promoter group was increased from 32.58% to 37.44% of the total paid up share capital of AAL and para 6.4 of the public announcement should be read accordingly.

Para 12 of the Public Announcement should be read as under: The Board of Directors has passed a resolution at its meeting held on August 25, 2011 authorizing the buy back.

The Board of Directors of the company has passed a resolution at its Board Meeting held on August 25, 2011 authorizing the buy back and the increase in the shareholding of promoter group of the company is exempted under Regulation 10(4)(c) of SEBI (SAST) Regulations, 2011, which provides exemption from the provisions of Regulation 3 and 4 of the Regulations in case of increase in voting rights pursuant to buy back of shares. The company is complying with all the conditions, as envisaged under Regulation 10(4)(c) of the SEBI (SAST) Regulations, 2011.

The capitalized terms and abbreviations used in this Corrigendum have the same meaning as prescribed to them in the Public Announcement , unless otherwise specified.

Source : BSE - >www.bseindia.com

Published on January 10, 2012
TOPICS

Related

This article is closed for comments.
Please Email the Editor