Ace India Limited - Corrigendum

Feb 19, 2003
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Takeovers : Other Documents

PUBLIC ANNOUNCEMENT TO THE SHAREHOLDERS OF

ACE INDIA LIMITED

CORRIGENDUM 

THIS CORRIGENDUM HAS REFERENCE TO THE ORIGINAL PUBLIC ANNOUNCEMENT THAT APPEARED IN THIS NEWSPAPER ON 26.12.2002 

  1. Following is to be added in point no. II (a)

    "Mr. V.P. Narula has extensive experience in Chit Fund business, financing and Investment activities. He initially started his career by setting up a T.V. Training Institute in 1980 and subsequently diversified his business in other fields including that of financing, dealing in consumer goods and electrical appliances etc. He is presently running several chit groups registered under Madras Chit Funds Act." 

  2. The date appearing in sub point no. (i) of point no. I is to be read as 22.09.2002 in place of 22.11.2002. 
     
  3. Following is to be added as sub point no. (g) in Point no. III:  

"There are no partly paid shares in AIL. " 

4. Following is to be added as sub point no. (aa) in Point no. VII:

'' The offer is open to all the shareholders (except the Acquirer and parties to Acquisition Agreement dated 21.12.2002) whose names appear in the register of shareholders, the beneficial owners of the shares of AIL whose names appear on the beneficial records of the respective depositories at the close of business hours as on 22.01.2003 'the specified date' and also to those persons (except the Acquirer and parties to Acquisition Agreement dated 21.12.2002) who own the shares any time prior to the closure of the offer, but are not registered shareholder(s).'' 

5. Following is to be added as sub point no. (ee) in Point no. VII:

"Where the number of shares offered for sale by the shareholders are more than the shares agreed to be acquired by the Acquirer, such shares shall be accepted on a proportional basis. The acquirer, in consultation with the merchant banker, will take care to ensure that the basis of acceptance is decided on a fair and equitable basis." 

  1. Following is to be added as sub point no. (eee) in Point no. VII:  

    "The marketable lot will be 1 share for both physical and dematerialized shares." 

  2. The following dates are to be substituted in sub point no.(p) of point no.VII : 

     

 

Activity

  

Last Date

Date of opening of the Offer

21.02.2003(Friday)

Date for revising the offer price

10.03.2003 (Monday)

Last date for withdrawal of shares

17.03.2003(Monday)

Date of closing of the Offer

22.03.2003 (Saturday)

 8. The date of closure of the offer has been changed from 25.03.2003 to 22.03.2003 in sub point no. (f) and (h) of point no. VII. 

 

9. The date for withdrawal of application has been changed from 19.03.2003 to 17.03.2003 in sub point (k), (l) and (m) of point no. VII.

10.


    A copy of this Public Announcement would be available on SEBI's website : / 

Issued by Manager to the Offer:

Doogar & Associates Limited

13, Community Centre,

East of Kailash,

New Delhi – 110 065

Tel.(011)26472557,26419079,26218274

Fax (011) 26219491

Contact Person: Ms. Anvita Awasthi & Ms. Disha Doogar

E-mail: doogar@ndf.vsnl.net.in 

 

On behalf of the Acquirer

 

Date: 06.02.2003

Place : New Delhi

Sub point (o) of Point no. VII is to be substituted by the following: