| Opening of Offer to Buy – Acquisition Window (Buyback) for MOIL Limited |
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. The Exchange vide its notice no. 20150930-1 dated September 30, 2015, 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 MOIL Limited (“Company”) has announced cash offer for Buyback of not exceeding 3,48,12,196 (Three Crore Forty Eight Lakh Twelve Thousand One Hundred And Ninety Six) fully paid-up equity shares of face value Rs. 10 each, representing 20.72% of the total number of equity shares in the issued, subscribed and paid-up equity share capital of MOIL Limited as on March 31, 2016 from all the existing shareholders/ beneficial owners of equity shares of the Company as on the record date i.e. Monday, August 8, 2016 on a proportionate basis, through the “Tender Offer” process at a price of Rs. 248 (Rupees Two Hundred And Forty Eight Only) per equity share for an aggregate consideration not exceeding Rs. 863,34,24,739 (Rupees Eight Hundred Sixty Three Crore Thirty Four Lakh Twenty Four Thousand Seven Hundred And Thirty Nine Only) from 19th September, 2016 to 30th September, 2016.
Market participants are further requested to note that the details of this Offer to buy would be available on BSE Website – www.bseindia.com.
Bhushan Mokashi
Dy. General Manager
Listing Sales & Ops
September 15, 2016 |