POST OFFER PUBLIC ANNOUNCEMENT TO THE SHAREHOLDERS OF
SERVE-ALL INVESTMENTS LIMITED [SIL]
(Registered Office: Garden Mills Complex, Outside Sahara Gate, Surat-395 010)
The details subsequent to the completion of the Offer made vide Public Announcement dated April 27, 2004, in terms of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto by Mr. Yalamati Srinivasa Chakravarti, Mr. Ram R Kancharla and Mr. Venkat Davarapalli (‘Acquirers’) to acquire up to 2,00,000 Fully Paid-up Equity Shares of Rs. 10/- each representing 20% of the total Issued, Subscribed and Paid-Up Equity and Voting Share Capital of SIL at a price of Rs.15/- per share payable in cash are as under:
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1.
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Name of the Target Company
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:
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Serve-All Investments Limited
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2.
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Name and Address of Acquirers
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:
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1. Mr. Yalamati Srinivasa Chakravarti
No. 302 Heritage Banjara, Pachavati Society, Banjara Hills,
Hyderabad-500 034
2. Mr. Ramakrishna Rao Kancharla alias Ram R Kancharla
No. 2878, Meadowood Ln, Bloomfield Hills, MI 48302-1029, USA.
3. Mr. Davarapalli Venkateswara Rao alias Venkat Davarapalli
No. 1608 Luther Avenue, Oakbrook Terrace, IL 60181, USA.
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3.
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Name of Manager to the Offer
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:
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Ashika Capital Limited
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4.
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Name of Registrar to the Offer
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:
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Aarthi Consultants Pvt. Ltd.
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5.
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Offer Details
a. Date of Opening of the Offer
b. Date of Closure of the Offer
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:
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June 21, 2004
July 20, 2004
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6.
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Details of the Acquisition
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:
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S. No.
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Particulars
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Proposed in the Offer Document
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Actuals
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(i)
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Offer Price:
Fully Paid Equity Shares
Partly Paid Equity Shares
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Rs. 15.00 per share
Not Applicable
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Rs. 15.00 per share
Not Applicable
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Number
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(%)
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Number
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(%)
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(ii)
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Shareholding of Acquirer(s)
before MOU / P.A.
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NIL
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NIL
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NIL
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NIL
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(iii)
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Shares acquired by way of MOU or Market Purchases
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6,23,129
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62.31
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6,23,129
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62.31
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(iv)
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Shares acquired in the Open Offer
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2,00,000
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20.00
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NIL
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NIL
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(v)
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Size of the Open Offer (No. of shares multiplied by Offer Price per Share)
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Rs. 30.00 Lakhs
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NIL
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(vi)
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Shares acquired after PA but before 7 working days prior to Closure Date, if any.
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NIL
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NIL
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NIL
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NIL
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(vii)
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Post Offer Share Holding of Acquirers (ii+iii+iv+vi)
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8,23,129
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82.31
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6,23,129
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62.31
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(viii)
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Pre Offer Shareholding of Public
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3,76,871
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37.69
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3,76,871
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37.69
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Post Offer Shareholding of Public
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1,76,871
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17.69
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3,76,871
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37.69
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7.
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Status of Escrow Account
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:
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The amount lying in the Escrow Account is yet to be released to the Acquirers.
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8.
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Payment of Interest, if any
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:
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Nil
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9.
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Status of Investor Compliances
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:
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Nil
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The Acquirers accept full responsibility jointly and severally for the information contained in this Public Announcement and are responsible for the obligation of the acquirers as laid down in the SEBI (SAST) Regulations, 1997.
This Public Announcement also be available on the SEBI website at www.sebi.gov.in
Issued By Manager to The Offer on Behalf Of The Acquirers
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Place: Hyderabad
Date: August 25, 2004
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Ashika Capital Limited
7-1-613/14A, Nestcon Lakshmisri, Suite No: 6, 2nd Floor, Ameerpet,
Hyderabad-500 016. Tel: +91-40-55617802 / 23750498
Fax: +91-40-55617801 E-Mail: ashika_hyderabad@rediffmail.com
Contact Person: Mr. Rajendra Kanoongo
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