CIL Securities Ltd (Managers to the Offer), on behalf of Shri Peraje Prakash Pai and Shri Peraje Anantha Pai (Acquirers) has issued this Public Announcement (PA) to the equity shareholders of Lotus Chocolate Company Ltd (Target Company), pursuant to Regulation 10 & 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 1997 and subsequent amendments thereto (Regulations).
The Acquirer is hereby making this PA of the Offer, to acquire up to 25,68,210 equity shares of Rs. 10 each representing 20% of the issued, subscribed and paid up equity share capital of Target Company from the public shareholders at the Offer Price i.e. Rs. 16/- (Rupees Sixteen only) per fully paid up Equity Share (offer price) payable in cash (which is higher than the negotiated price and is in compliance with the Minimum offer price payable under Regulation 20(5) of the Regulations) subject to the terms and conditions, mentioned in the PA.
Schedule of Activities:
Specified Date - August 02, 2008
Date of Opening of the Offer - September 01, 2008
Date of Closing of the Offer - September 19, 2008
The Acquirer is hereby making this PA of the Offer, to acquire up to 25,68,210 equity shares of Rs. 10 each representing 20% of the issued, subscribed and paid up equity share capital of Target Company from the public shareholders at the Offer Price i.e. Rs. 16/- (Rupees Sixteen only) per fully paid up Equity Share (offer price) payable in cash (which is higher than the negotiated price and is in compliance with the Minimum offer price payable under Regulation 20(5) of the Regulations) subject to the terms and conditions, mentioned in the PA.
Schedule of Activities:
Specified Date - August 02, 2008
Date of Opening of the Offer - September 01, 2008
Date of Closing of the Offer - September 19, 2008
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