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| Exchange Disseminated Time | JM Financial Institutional Securities Ltd ("Manager to the Offer") on behalf of Independent Media Trust (“IMT” / “Acquirer”) represented by its trustee Sanchar Content Private Limited (“SCPL”), together with Reliance Industries Ltd (“RIL” / “PAC 1”) and Reliance Industrial Investments and Holdings Ltd (“RIIHL” /“PAC 2”), (“Offer” / “Open Offer”). PAC 1 and PAC 2 are together referred to as PACs has informed BSE about Open offer for the acquisition of up to 22,99,46,996 equity shares of Network18 Media & Investments Ltd, (“NW18” / “Target Company” / “Target”)
Offer:
IMT and the PACs hereby make this Offer to the Public Shareholders (Public Shareholders is defined as the equity shareholders of NW18, excluding the parties to the Share Purchase Agreement dated May 29, 2014 (“SPA”) and persons acting in concert or deemed to be acting in concert with such parties), to acquire up to 22,99,46,996 Equity Shares (“Offer Shares”), constituting the remaining 21.96% of the Emerging Voting Capital (being the expected equity share capital as of the
10th working day after the closure of the tendering period for the Offer after considering all potential increase in the number of outstanding Equity Shares on account of outstanding employee stock options) of NW18 at a price of Rs 41.04 per Offer Share (“Offer Price”) aggregating to Rs 943.70 crore (“Offer Size”), subject to the terms and conditions mentioned in NW18 PA and the detailed public statement (“NW18 DPS”) and the letter of offer (“NW18 LoF”). |
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