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 Takeover, Buy Back and De-listing 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, 2017,20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020has 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 an Open Offer is made by Mrs. Manju Singla (Acquirer 1), Mr. Udit Singla (Acquirer 2), Ms. Supriya Singla (Acquirer 3), Mr. Raja Singla (Acquirer 4), Mr. Shivom Singla (Acquirer 5), M/s Connoisseur Management Services (P) Limited (Acquirer 6), M/s Tanita Leasing & Finance Limited (Acquirer 7), (hereinafter collectively referred to as "Acquirers") along with Person Acting in Concert (s) Mr. Suresh Chand Singla (PAC 1, Mr. Suresh Chand Singla (HUF) (PAC 2), Mr. Naresh Kumar Singla (PAC 3), Mr. Naresh Kumar Singla (HUF) (PAC 4),Mrs. Madhu Gupta (PAC 5), M/s Tee Eer Securities & Financial Services (P) Limited (PAC 6)(hereinafter collectively referred to as "PACs") to the shareholders of TITAN SECURITIES LIMITED (Target Company) to acquire up to 95,06,156 (Ninety Five Lakh Six Thousand One Hundred and Fifty Six Only) equity shares of Rs. 10/- (Rupees Ten Only) each, representing 38% of the total equity/voting share capital of the Target Company at a price of Rs. 3.60/- (Rupees Three and Sixty Paisa Only) per fully paid equity share payable in Cash, pursuant to the Regulations 3(1) of Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 ("SEBI (SAST) Regulations"), from June 16, 2020 to June 29, 2020.
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 20190424-35 dated April 24, 2019 along with the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
June 11, 2020 |