Ahmedabad Victoria Iron Works

Aug 21, 2003
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Takeovers : Other Documents

POST OFFER PUBLIC ANNOUNCEMENT

To the Shareholders of

 

 The Ahmedabad Victoria Iron Works Co. Limited (AVIWCL)

 

(Registered Office – Dudheshwar Road, Opp. Photo Litho Press, Ahmedabad – 380 004)

 

 

 

This Public Announcement is being issued by M/s. Vivro Financial Services Private Limited, (Manager to the Offer) on behalf of Mr. Kiran D. Sheth, (the Acquirer), Mrs. Jyoti K. Sheth, Mr. Kunal K. Sheth and Mrs. Nishita K. Sheth & Others (the Persons Acting in Concert) subsequent to the completion of the Offer formalities for acquiring 882 equity shares representing 9.71% of the equity share capital of AVIWCL (Target Company) at a price of Rs. 401.50 per share. The Offer opened on 10.06.2003 and closed on 09.07.2003.         

 

SR. NO.

 

ITEM

 

 

PROPOSED IN THE OFFER DOCUMENT

 

ACTUAL

 

1

 

Offer Price (per equity share)

 

Rs. 401.50

 

Rs. 401.50

 

2

 

Share holding of Acquirers and PAC before PA

 

8,203 (90.29%)

 

8,203 (90.29%)

 

3

 

Shares acquired by way of MOU or market purchases

 

Nil

 

Nil

 

4

 

Shares acquired in the open offer

 

882 (9.71%)

 

386 (4.25%)

 

5

 

Size of the open offer (No. of shares multiplied by offer price per share)

 

Rs. 3,54,123/-

 

Rs.1,54,979/-

 

6

 

Shares acquired after PA but before 7 working days prior to closure date, if any

 

Nil

 

Nil

 

7

 

Post offer share holding of acquirer (2+3+4+6)

 

9085 (100%)

 

8589 (94.54%)

 

8

 

Pre & Post offer share holding of Public (No & %)

 

Pre Offer

 

Post Offer

 

Pre Offer

 

Post Offer

 

 

 

882 (9.71%)

 

Nil

 

(0.00%)

 

882 (9.71%)

 

496 (5.46%)

 

Other Details

Status of Escrow Account, whether released or not

The Escrow Account has not been released till the date of this Public Announcement.

Payment of interest, if any, to the shareholders along with the details thereof

As directed by SEBI vide its order no. CO/487/TO/02/2003 dated 19/2/2003, interest of Rs.36.5 per share (being 10% p.a. on the Price calculated u/r 20 of Rs. 365/-) is paid for the period from 30/7/2002 till 30/7/2003 to all the shareholders whose acceptance has been received under the offer. The said amount of interest has already been included in the Offer Price i.e. Rs.401.50

Status of Investor Complaints received, if any

Nil

The Acquirer and PACs, jointly and severally, accept full responsibility for the information contained in this PA.

Issued by:  Manager To The Offer

On Behalf of

Vivro Financial Services Private Limited

Contact Person:

Mr. Jayesh Vithlani, Company Secretary

“Vivro House”, 11, Shashi Colony,

                     Nr. Suvidha Shopping Centre, Paldi,

                    Ahmedabad – 380 007.

Tel.: (079) 6575666, Fax: (079) 6575441 Email: ahmedabad@vivro.net

Mr. Kiran D. Sheth (Acquirer) & Others

“Sharmidwar”,

Opp. Suresh Flats, Navrangpura,

Ahmedabad 380 009

Place:  Ahmedabad                                                           Date: 11.8.2003