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NOTICES
Notice No.   20181217-13   Notice Date   17 Dec 2018
Category   Trading   Segment   Equity
Subject   Offer to Buy – Acquisition Window (Takeover) for Fortis Healthcare Limited
Attachments   Fortis Healthcare Limited_Announcement.pdf ;
Content

This Notice is issued in continuation with the Exchange Notice no. 20181213-10 regarding an Open Offer (“Offer”) by Northern TK Venture Pte. Ltd. (hereinafter referred to as “Acquirer”) along with IHH Healthcare Berhad (hereinafter referred to as “PAC 1”) and Parkway Pantai Limited (hereinafter referred to as “PAC 2”) (PAC 1 and PAC 2 being collectively referred to as the “PACs”) to acquire up to 197,025,660 (One Hundred and Ninety Seven Million, Twenty Five Thousand, Six Hundred and Sixty Only) fully paid up equity shares of Rs. 10/- (Rupees Ten Only) each representing 26.0% of the expanded voting share capital from the equity shareholders of Fortis Healthcare Limited

 

Trading Members and Custodians are requested to note that HSBC Securities and Capital Markets (India) Private Limited, HDFC Bank Limited, Citigroup Global Markets India Private Limited and Deutsche Equities India Private Limited, the joint managers to the Open Offer (the “Managers”), on behalf of the Acquirer and PACs, have submitted the attached public announcement (“Announcement”) published on December 17, 2018 inter alia informing that 

 “The Equity Shareholders are requested to note that, on December 14, 2018, the Honorable Supreme Court of India has passed an order in the matter of Mr. Vinay Prakash Singh v. Sameer Gehlaut & Ors., whereby they have issued the following direction: “Status quo with regard to sale of the controlling stake in Fortis Healthcare to Malaysian IHH Healthcare Berhad be maintained”. In light of the above, the Acquirer and PACs will not be able to proceed with the Open Offer as per the timeline set out in the “Schedule of Major Activities of the Offer” contained in page 3 of the LOF. Once further order(s)/ clarification(s)/ direction(s) are issued by the Honorable Supreme Court of India and/ or SEBI, the Acquirer and PACs will decide on the next steps and the Equity Shareholders will be intimated accordingly.”

 

In view of the above, Market participants are advised to note that the revised timelines/ Schedule of Major Activities of the Offer for tendering of the shares in the open offer of Fortis Healthcare Limited through the Exchange’s OTB platform will be intimated accordingly.

 

 

 

Bhushan Mokashi

Additional General Manager

Listing Ops & Sales

December 17, 2018