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 Open Offer (“Offer”) by Mr. Vatsal Agarwaal (hereinafter referred to as “The Acquirer”) to the shareholders of Stratmont Industries Limited (formerly known as Chhattisgarh Industries Limited) (hereinafter referred to as “SIL” or the “Target Company”) for the acquisition of 9,09,449 (Nine lakh Nine Thousand Four Hundred Forty Nine Only) fully paid up equity Shares of Rs.10/- each representing 26.00% of emerging voting capital of the Target Company, at a price of Rs. 10.20/- (Rupees Ten Only) per equity share (the “Offer Price”) payable in cash pursuant to regulations 3(1) & 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“SEBI (SAST) Regulations”) from January 22, 2019 to February 04, 2019.
Offer Price is revised from Rs.10/- each per share to Rs. 10.20/- each per share on account interest @ 10% p.a. payable on additional days to the participating shareholders from the previous offer opening date i.e. December 13, 2018 till the date of re-opening of tendering period i.e January 22, 2019.
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.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
January 18, 2019
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