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 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, 20190207-23 dated 07 Feb 2019 and 20200528-32 dated 28 May 2020 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 an offer for delisting of equity shares of Frontline Securities Limited (the “Company”) is made by the Hope Consultants Limited (“Acquirer 1”), Mr. Rakesh Kumar Jain (“Acquirer 2”) & Mrs. Prerna Jain (“Acquirer 3”) (hereinafter collectively referred to as the “Acquirers”) to acquire 26,94,807 equity shares representing 27.03% of the total paid up equity share capital of the Company from the Public Shareholders of face value of Rs 5/- each of the Company (“Equity Shares”) at floor price of Rs. 36.08 (Rupees Thirty Six and Eight Paise only) per Equity Share, pursuant to Reverse Booking Building process in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 as amended (the “Delisting Regulations”) , from July 08, 2020 to July 14, 2020.
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
Additional General Manager
Listing Sales & Ops
July 06, 2020
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