POST OFFER PUBLIC ANNOUNCEMENT TO THE SHAREHOLDERS OF
SAYAJI IRON & ENGINEERING COMPANY LIMITED (SIECL)
Regd. Office: Chhani Road, Vadodata-390 002
The details subsequent to the completion of the offer made vide Public Announcement dated May 21, 2008 (“PA”), Corrigendum to PA dated August 09, 2008 and Letter of Offer dated August 11, 2008 is being issued by VC Corporate Advisors Private Limited (“Manager to the offer”) in terms of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 (“Regulations”) and subsequent amendments thereto on behalf of McNally Bharat Engineering Company Limited (“Acquirer”) to acquire upto 7,80,080 fully paid-up Equity Shares of Rs.10/- each, representing 20% of the fully paid-up equity and voting share capital of SIECL at a price of Rs.221.60/- per share (“Offer Price”) payable in cash are as under:
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1. |
Name of the Target Company |
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Sayaji Iron & Engineering Company Limited
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2. |
Name and Address of the Acquirer(s) including PACs |
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McNally Bharat Engineering Company Limited having its registered office at 4, Mangoe Lane, Kolkata – 700 001. |
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3. |
Name of Manager to the offer |
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VC Corporate Advisors Private Limited
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4. |
Name of Registrar to the offer |
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Maheshwari Datamatics Pvt. Ltd.
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5. |
Offer details a) Date of Opening of the Offer |
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20.08.2008 (Wednesday) |
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b) Date of Closing of the Offer |
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08.09.2008 (Monday) |
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6. |
Details of the acquisition: |
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Sr. No. |
Particulars |
Proposed in the offer document |
Actuals |
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1. |
Offer Price |
Rs. 221.60/- |
Rs. 221.60/- |
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2. |
Share holding of acquirer (No. & %) before MOU/P.A. |
Nil
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Nil
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3. |
Shares acquired by way of MOU (No. & %) |
26,63,100 (68.28%)
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26,63,100 (68.28%) |
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4. |
Shares acquired in the Open Offer (No. & %) |
7,80,080(20.00%) |
7,42,725(19.04%) |
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5. |
Size of the Open Offer (No. of shares multiplied by Offer Price per share) |
Rs. 17,28,65,728/- |
Rs. 16,45,87,860/- |
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6. |
Shares Acquired after P.A. but before 7 working days prior to closure date, if any. (No. & %) |
Nil |
Nil |
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7. |
Post Offer shareholding of acquirers (No. & %) (2+3+4+6) |
34,43,180 (88.28%) |
34,05,825 (87.32%) |
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8. |
Pre and Post Offer shareholding of public (No. & %) |
Pre Offer |
Post Offer |
Pre Offer |
Post Offer |
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12,37,300 (31.72%) |
4,57,220 (11.72%) |
12,37,300 (31.72%) |
4,94,575 (12.68%) |
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7. |
Status of the Escrow Account, whether released or not |
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The amount lying in Escrow Account is being released to the Acquirer. |
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8. |
Payment of interest, if any, to the shareholders along with the details thereof. |
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Not Applicable |
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9. |
Status of Investor Complaints received, if any. |
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Nil |
The Acquirer & its directors accept full responsibility for the information contained in this Public Announcement and is responsible for the obligations of the Acquirer as laid down in the SEBI (SAST) Regulations, 1997.
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This Public Announcement will also be available on SEBI website at www.sebi.gov.in |
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Issued by
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: Manager to the offer
VC CORPORATE ADVISORS PRIVATE LIMITED SEBI REGN NO : INM000011096 (Contact Person: Mr. Vijay Kumar Chandak) 31, Ganesh Chandra Avenue, 2nd Floor, Suite No. 2C, Kolkata – 700 013 Tel :- (033) 2225 3940 / 41, Fax : - (033) 2225 3941 Email : mail@vccorporate.com |
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On behalf of Acquirer : McNally Bharat Engineering Company Limited |
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Place: Kolkata Date:19.09.2008 |
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