PUBLIC ANNOUNCEMENT TO THE SHAREHOLDERS OF

 

GROWEL INVESTMENT LIMITED

 

 

Corrigendum to Public Announcement (PA), which appeared in this newspaper on 26th December, 2005

 

 

 

1.             In the para 10 (Time Schedule of the Offer) of the PA, there has been revision and accordingly, the revised time schedule of the Offer is as follows:

 

Activity

Original Schedule

Revised Schedule

Specified Date (for the purpose of determining the names of shareholders to whom the Letter of Offer would be sent)

 

Monday, 23rd January, 2006

 

Monday, 23rd January, 2006

 

Last date for Competitive Bid

 

Monday, 16th January, 2006 (instead of Sunday, 15th January, 2006)

 

Monday, 16th January, 2006

 

Date by which Letter of Offer to be posted to the shareholders.

 

Saturday, 4th February, 2006

 

Wednesday, 15th February, 2006

 

Date of Opening of the Offer

 

Monday, 13th February, 2006

 

Monday, 20th February, 2006

 

Last date for revising the Offer Price / Number of Shares

 

Wednesday, 22nd February, 2006

 

(instead of Thursday, 23rd February, 2006)

 

Wednesday, 1st March, 2006

 

 

Last date up to which shareholders may withdraw

 

Tuesday, 28th February, 2006

 

Tuesday, 7th March, 2006

 

Date of Closure of the Offer

 

               

 

Saturday, 4th March, 2006

 

Saturday, 11th March, 2006

 

Date by which acceptance/ rejection would be communicated and the corresponding payment for the acquired shares and/ or the unaccepted shares/ share certificates will be dispatched/ credited.                                                                        

 

Saturday, 18th March, 2006

 

Saturday, 25th March, 2006

 

2.             There has been delay in filing of the report under regulation 3(4) of SEBI (SAST) Regulations, 1997 in respect of two occasions of inter-se transfer of equity shares in September 1998 and 2001 respectively amongst the promoters, as the promoters have filed the report with SEBI on 6th February 2006. SEBI is examining the violations of inter-se transfers of shares among promoters and may take appropriate action in this regard against the promoters. Further, the Share Purchase Agreement dated 23rd December 2005 shall not be acted upon unless the report u/r 3(4) in respect of inter-se transfer of shares among promoters are examined by SEBI and compliance established.

3.             The Acquirer accepts full responsibility for the information contained in this Announcement and also for the obligations of the Acquirer as laid down in SEBI Takeover Regulations and subsequent amendments made thereto.

4.             The Corrigendum to Public Announcement would also be available at SEBI�s website, www.sebi.gov.in.

MANAGER TO THE OFFER

STRATCAP SECURITIES (INDIA) PRIVATE LIMITED

(A Wholly owned subsidiary of Strategic Capital Corporation Limited)

Strategic House, 44, Mint Road, Fort, Mumbai�400 001.

Tel.: (022) 56349949-49 Fax: (022) 22642393

Email: javascript:main.compose('new','t=info@strategicindia.net'), Contact Person: Anil Bhattar

Place: Mumbai

Date: 13th February, 2006