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 Anushi Retail LLP (“Acquirer”), along with person acting in concert Anuj Sawhney (“PAC 1”), Ashita Sawhney (“PAC 2”), Swiss Military Lifestyle Products Private Limited (“PAC 3”), collectively referred to as the “PACs”), to the public shareholders of Network Limited (“Target Company”), to acquire up to 1,72,01,975 (One Crore Seventy Two Lakh One Thousand Nine Hundred and Seventy Five) Equity Shares of the face value of Rs. 2 (Rupees Two only) each ("Offer Shares"), of the Target Company, representing 35% of the Fully Paid Up Equity Share Capital of the Target Company at a price of Re. 1/- (Rupee One only) per Equity Share, payable in cash, pursuant to and in compliance with Regulation 4 read with Regulation 3(1) and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SEBI (SAST) Regulations”) from August 17, 2020 to August 28, 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
August 13, 2020
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