Aryaman Financial Services Ltd (Manager to the Offer) on behalf of Godavari Corporation Pvt Ltd, Nirved Traders Pvt Ltd, Shearson Investment & Trading Company Pvt Ltd (Acquirers) has issued this Public Announcement (PA) to the Shareholders of Melstar Information Technologies Ltd (Target Company), pursuant to Regulation 10 & 12 & other provisions of Chapter III & in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 & Subsequent amendments thereto (Regulations).
The Offer:
The Acquirers making an Open Offer to acquire up to 28,56,628 equity shares (Shares) of the face value of Rs 10/- each, representing in aggregate 20% of the paid up equity share capital & voting capital of the Target Company in terms of Regulation 21(1) of the SEBI (SAST) Regulations, at a price of Rs 15/- (Rupees Fifteen only) per fully paid equity share (Offer Price) payable in cash subject to the terms & conditions mentioned in this PA & the Letter of Offer.
Schedule of Activities:
Specified Date - September 27, 2008
Date of Opening of the Offer - November 05, 2008
Date of Closing of the Offer - November 24, 2008
The Offer:
The Acquirers making an Open Offer to acquire up to 28,56,628 equity shares (Shares) of the face value of Rs 10/- each, representing in aggregate 20% of the paid up equity share capital & voting capital of the Target Company in terms of Regulation 21(1) of the SEBI (SAST) Regulations, at a price of Rs 15/- (Rupees Fifteen only) per fully paid equity share (Offer Price) payable in cash subject to the terms & conditions mentioned in this PA & the Letter of Offer.
Schedule of Activities:
Specified Date - September 27, 2008
Date of Opening of the Offer - November 05, 2008
Date of Closing of the Offer - November 24, 2008
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