Open Offer

| Updated on October 10, 2014 Published on October 10, 2014

Vivro Financial Services Ltd ("Manager to the Offer") has submitted to BSE a Copy of Public Announcement regarding Open Offer (“Offer”) for acquisition of up to 10,40,000 (Ten Lakh Forty Thousand) fully paid up Equity Shares of Rs. 10/- each, from the Shareholders of PAN Electronics (India) Limited ("Target Company") by Mr. Gullu Gellaram Talreja (Alias Prakash Gellaram Talreja) (“Acquirer”) pursuant to and in accordance with Regulation 3(1) and Regulation 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 2011, as amended (“SEBI (SAST) Regulations”).

Offer Details:

Size: This Offer is being made by the Acquirer to the Shareholders of the Target Company, for acquisition of up to 10,40,000 fully paid up Equity Shares of face value of Rs. 10/- each representing 26% of the Issued, Subscribed, Paid Up Equity Share Capital having Voting Rights of the Target Company pursuant to Share Purchase Agreement (SPA) dated October 07, 2014, in terms of SEBI (SAST) Regulations.

Price consideration: Rs. 7.88 (Rupees Seven and Paise Eighty eight only) per fully paid up Equity Share of Rs. 10/- each (“Offer Price”) of the Target Company, will be offered for the shares tendered during the Tendering Period. Assuming full acceptance, the total Consideration payable by the Acquirer will be Rs. 81,95,200/- (Rupees Eighty One Lakhs Ninety Five Thousand and Two Hundred Only).

Source : BSE - www.bseindia.com

Published on October 10, 2014
This article is closed for comments.
Please Email the Editor