Rajath Finance Ltd - Post offer PA

Jun 15, 2004
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Takeovers : Other Documents

POST OFFER PUBLIC ANNOUNCEMENT TO THE SHAREHOLDERS OF

RAJATH FINANCE LIMITED

 

The details subsequent to the completion of the offer made vide Public Announcement dated 29th October, 2003 in terms of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereof by Unicorn Holdings Private Limited (the Acquirer) & Shri Chamanlal V. Kamani, Shri Rashmi C. Kamani and Shri Deepak C. Kamani (PACs) to acquirer 8,00,000 fully paid up equity shares of Rs. 10/- each representing 20% of paid up equity and voting share capital of Rajath Finance Limited at a price of Rs. 11.00/- per share (including the amount of interest       @ 10 % per annum on offer price of Rs. 10/- per share  w.e.f. 01.06.2003 till 31.05.2004)  payable in cash are as under :

  

1. Name of the Target Company         :  Rajath Finance Limited

  

2. Name and Address of the

 

Acquirer(s) including PACs                :  Unicorn Holdings Private Limited,

 

 being Acquirer having address at

 

907, Star Plaza, Phulchhab Chowk,

 

 Rajkot -360 001. Ph. No. (0281) 2447800-01

 

Fax : (0281) 2454271.

 

 

Shri Chamanlal V. Kamani,

 

Shri Rashmi C. Kamani,

 

Shri Deepak C. Kamani,

 

being PACs, having common Address to all at House No.81, KyunaRoad,Nairobi,Kenya.

 

Ph.No.(0025420) 537592,

 

Fax : (0025420) 553143

 

 

3. Name of the Manager to the offer :    Mehta Integrated Finance Limited

 

 

4. Name of the Registrar to the Offer:   Intime Spectrum Registry Limited

 

 

5. Other details

 

(a)    Date of the opening of the offer: 16th April, 2004

 

(b)    Date of closing of the offer       : 15th May, 2004

 

 

6. Details of the acquisition

 

Sr.

 

No.

 

Particulars

 

Proposed in the

 

Offer document

 

Actuals

 

1.    

 

Offer Price (including interest        @ 10 % as aforesaid)

 

 

Rs. 11.00  per share

 

Rs. 11.00 per share

 

2.

 

Shareholding of acquirers

 

before MOU/P.A.

 

  1. Main Acquirer 
  2. PACs
  3. Deemed PAC

         Total

 

 

 

2,42,360   (6.06 %)

 

6,93,600   (17.34 %)

 

16,87,100 (42.18 %)

 

26,23,060  (65.58 %)

 

 

 

2,42,360   (6.06 %)

 

6,93,600   (17.34 %)

 

16,87,100 (42.18 %)

 

26,23,060  (65.58 %)

 

3.

 

Shares acquired through oral agreements (No. & % )

 

(by the main Acquirer)

 

2,19,260   ( 5.48 %)

 

2,19,260 (5.48 %)

 

 

4.

 

Shares acquired in the Open offer (by the main Acquirer)

 

 

 8,00,000 (20.00 %)   

 

8,00,000 (20.00 %)

 

5.

 

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

 

Rs. 88,00,000/-

 

Rs. 88,00,000/-

 

6.

 

Shares acquired after P.A. but before 7 working days prior to closure date , if any (No. & %)

 

    Nil

 

   Nil

 

7.

 

Post Offer shareholding of acquirers (No. & % ) (2+3+4+6)

 

36,42,320 (91.06 %)

 

36,42,3620/- (91.06 %)

 

8.

 

Pre and Post Offer shareholding of Public (No. & %)

 

 

 

Pre Offer

 

 

11,57,680

 

(28.94 %)

 

Post Offer

 

 

3,57,680

 

(8.94 %)

 

Pre Offer

 

 

11,57,680

 

(28.94 %)

 

Post Offer

 

 

3,57,680

 

(8.94 %)

 
           

  

7. Status of the Escrow Account :   A sum of Rs. 29,53,673/- (along with interest)  out of the  Escrow Account of Rs. 32,00,000/- has been transferred into 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 funds in the escrow account will be released shortly to the Acquirer.

 

8. Payment of interest, if any, to the

 shareholders alongwith the details:  The Acquirer has paid interest @ 10.00 % p.a.on the Offer price of Rs 10/-  per share w.e.f. 01.06.2003  till actual payment of consideration as per SEBI Order No. CO/ 25/04/2003/TO dated  30-04-2003.

9. Status of investor complaints

     received if any                               :  Nil

Acquirers accept full responsibility for the information contained in this Public Announcement and are jointly and severally responsible for the obligations of the Acquirer as laid down in the SEBI (SAST) Regulations, 1997.

This Public Announcement would also be available on the SEBI’s website /

Issued by                                          :  Manager to the offer

Mehta Integrated Finance Limited

003, Law Garden Apartments, Scheme – I, Opp. Law Garden, Ellisbridge, Ahmedabad–380 006.

Phone No. (079) 26561000, 26565566

Fax:(079)26562756,

E-mail:mifl_in@yahoo.com

Contact Person : Mr. Krupal Amin

On behalf of Acquirer  &                 :  Unicorn Holdings Private Limited                 

 PACs                                              : Shri Chamanlal V. Kamani 

Shri Rashmi C. Kamani

Shri Deepak C. Kamani

Place : Rajkot                                                            Date :  02.06.2004