Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017, has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.
All Market Participants are hereby informed that Modi Intercontinental Private Limited (“Acquirer”) has made an open to acquire upto 28,95,330 (Twenty Eight Lacs Ninety Five Thousand Three Hundred and Thirty) Equity Shares of Face Value of Rs. 10/- each representing 25.01% of the expanded equity share capital of Modipon Limited at a price of Rs. 10/- (Rupees Ten Only) per fully paid up equity share payable in cash Pursuant to Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SEBI (SAST) Regulations, 2011”) from May 24, 2017 to June 06, 2017.
Market participants are further requested to note that this offer will be as per the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
The details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Bhushan Mokashi
Dy. General Manager
Listing Ops & Sales
May 22, 2017
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