Updates on Open Offer

Updated on: Dec 16, 2013

Meghraj Capital Advisors Pvt Ltd ("Manager to the Open Offer"), for and on behalf of CAC Corporation (“Acquirer”) has informed this Detailed Public Statement (“DPS”) to the Public Shareholders of Accel Frontline Ltd ("Target Company") in compliance with Regulation 13(4) read with Regulation 15(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto [“SEBI (SAST) Regulations”], pursuant to the Public Announcement dated December 09, 2013 (“PA”) sent to Securities and Exchange Board of India (“SEBI”), National Stock Exchange of India Limited (“NSE”), BSE Limited (“BSE”) and Target Company on December 09, 2013. The Offer is being made by the Acquirer pursuant to and in compliance with Regulations 3(1) and 4 of the SEBI (SAST) Regulations. The Offer: The Acquirer is making an Offer under Regulations 3(1) and 4 of the SEBI (SAST) Regulations to the public shareholders of the Target Company to acquire up to 77,38,087 fully paid-up Equity Shares of Rs. 10/- each, representing 26% of the Fully Diluted Share Capital, at a price of Rs. 45/- (Rupees Forty Five only) per share payable in cash and subject to the terms and conditions mentioned in DPS. Tentative Schedule of Activity: Identified Date - January 17, 2014 Date of commencement of Tendering Period (Offer Opening Date) - January 31, 2014 Date of Expiry of Tendering Period (Offer Closing Date) - February 13, 2014

Source : BSE - >www.bseindia.com

Published on December 16, 2013

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