Chartered Capital & Investment Ld (Manager to the Offer), on behalf of Mr Umesh P Chamdia (Acquirer) and Mrs Arwa Umesh (Persons Acting in Concert /PAC), has issued this Public Announcement (PA) to the Equity Shareholders of Woolite Mercantile Company Ltd (Target Company), pursuant to and in compliance with Regulation 10 and 12 & other applicable provisions as required under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations , 1997 (SEBI (SAST) Regulations, 1997) and subsequent amendments thereto.
The Offer:The Acquire intends to make an Open Offer in terms of the SEBI (SAST) Regulations, 1997 to the Shareholders of the Target Company to acquire upto 3,98,400 equity shares of Rs 10/- each representing 20% of the voting capital of Target Company at a price of Rs 13.50 (Rupees Thirteen and Paise fifty only) per fully paid up equity shares, payable in cash subject to the terms and conditions mentioned in the PASchedule of Activities:
Specified Date - November 28, 2008 Date of Opening of the Offer - December 24, 2008 Date of Closing of the Offer - January 12, 2009.
The Offer:The Acquire intends to make an Open Offer in terms of the SEBI (SAST) Regulations, 1997 to the Shareholders of the Target Company to acquire upto 3,98,400 equity shares of Rs 10/- each representing 20% of the voting capital of Target Company at a price of Rs 13.50 (Rupees Thirteen and Paise fifty only) per fully paid up equity shares, payable in cash subject to the terms and conditions mentioned in the PASchedule of Activities:
Specified Date - November 28, 2008 Date of Opening of the Offer - December 24, 2008 Date of Closing of the Offer - January 12, 2009.
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