POST OFFER PUBLIC ANNOUNCEMENT FOR THE ATTENTION OF THE SHAREHOLDERS OF EASTCOAST STEELS LTD (ESL) (REGISTERED OFFICE - CUDDALORE ROAD, PILLAIYARKUPPAM POST, BAHOUR COMMUNE, PONDICHERY - 607402)
This public announcement is being issued by M/s. Aryaman Financial Services Limited, (Manager to the Offer) on behalf of M/s. Girdhar Morari Agro Research Pvt. Ltd. (Acquirer) & Shri Rajendra Chaturvedi, Shri Girdhari Lal Chaturvedi, Shri Dinanath Bohre (Persons Acting in Concert ) subsequent to the completetion of offer formalities, for acquiring 9,79,294 equity shares of ESL (Target Company) representing 20.00% of the equity share capital at a price of Rs. 1.25 per share for each fully paid up Equity share and Re. 0.65 per share for each partly paid up equity shares
The offer opened on 08.05.03 and closed on 06.06.03.
The details of the offer are as under :
|
SR.
NO.
|
ITEM
|
PROPOSED IN THE
OFFER DOCUMENT
|
ACTUALS
|
|
1
|
Offer Price: -
Fully Paid Equity Shares
Partly Paid Equity Shares
|
Rs. 1.25
Re. 0.65
|
Rs. 1.25
Re. 0.65
|
|
2
|
Share holding of acquirer including PACs (No. & %) before MOU / P.A.
|
Nil
|
Nil
|
|
3
|
Shares acquired by way of MOU or market purchases (No. & %)
|
16,19,903
33.27% of voting capital
|
16,19,903
33.27% of voting capital
|
|
4
|
Shares acquired in the open offer (No. & %)
|
9,79,294
20.11% of voting capital
|
2,35,350
4.83% of voting capital
|
|
5
|
Size of the open offer (No. of shares multiplied by offer price per share)
|
Rs.12.24 Lacs
|
Rs. 2.94 Lacs
|
|
6
|
Shares acquired after P.A. but before 7 working days prior to closure date, if any. (No. & %)
|
|
NIL
|
|
7
|
Post offer share holding of acquirer (No. & %)
(2+3+4+6)
|
25,99,197
53.38% of voting capital
|
18,55,253
38.11% of voting capital
|
|
8
|
Pre & Post offer share holding of Public (No. & %) *
|
Pre Offer
|
Post Offer
|
Pre Offer
|
Post Offer
|
|
|
32,76,565
66.72% of voting capital
|
22,97,271
46.62% of voting capital
|
32,76,565
66.72% of voting capital
|
30,41,215
61.89% of voting capital
|
* inclusive of 5.92% held by the existing promoters.
Other Details
|
Status of the escrow account,
Whether released or not :
|
90% of the amount lying in the escrow account has been transferred to the special account opened for the purpose of payments to be made to the shareholders whose shares have been accepted under the offer. The balance of 10% has been refunded to the Acquirer.
|
|
Payment of interest, if any, to the shareholders along with the details thereof
|
Not Applicable.
|
|
Status of investor complaints received,
if any :
|
1 complaint was received which was replied to.
|
|
Issued by: Manager To The Offer
|
Registrar to the Offer
|
|
Aryaman Financial Services Limited,
106, Atlanta, Nariman Point,
Mumbai – 400 021.
Tel. : (022) 22826465/66,
Fax : (022) 22826467
Email : aryaman@bom2.vsnl.net.in.
Contact Person : Ms. Radha Kirthivasan
|
Bigshare Services Pvt. Ltd.
E-2/3, Ansa Industrial Estate,
Sakivihar Road, SakiNaka, Andheri (E), Mumbai – 400 072
Tel : 022 2852 3574 / 2856 0652
Fax : 022 2852 5207
e-mail : bigshare@bom7.vsnl.net.in
Contact Person : Mr. Verghese
|
On Behalf of : M/s. Girdhar Morari Agro Research Pvt. Ltd.101, Aangan Apts., Swarg Ashram Street, Tithal Road, Valsad, Gujarat – 396 001Tel : 02632 253866
Place: Mumbai
Date: 16.07.03