Updates on Open Offer

Enam Securities Pvt Ltd ("Manager to the Offer"), for and on behalf of Coromandel International Ltd ("Acquirer"), has informed BSE regarding Open Offer to the equity shareholders of Sabero Organics Gujarat Ltd ("Target Company"), which is in continuation of & should be read in conjunction with the Public Announcement ("PA") dated June 02, 2011 to acquire 1,05,00,000 Equity Shares of Rs. 10/- each fully paid up ("Equity Shares") representing 31.00% of the existing outstanding voting Equity Share Capital, at a price of Rs. 160/- per fully paid-up Equity Share ("Offer Price") payable in cash ("Offer" or "Open Offer") under the SEBI (Substantial Acquisition and Takeover) Regulations, 1997 and amendments thereto ("Regulations" or "SEBI (SAST) Regulations").

Further to the PA by the Acquirer, pursuant to and in compliance with the Regulations, the shareholders of the Target Company are requested to note that the Date of opening of the Offer and other relevant dates mentioned in the PA under "schedule of the activities pertaining to the Offer" will undergo a change and the revised schedule of activities will be announced separately after receiving SEBIs approval to the letter of offer.

Source : BSE - www.bseindia.com

Published on July 21, 2011
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