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 2020 and 20201102-43 dated 02 Nov 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 Open Offer is made by Shobha Anant Hegde (“Acquirer 1”) , Electrex International Private Limited (“Acquirer 2”), Electrex Power Tools Private Limited (“Acquirer 3”) (herein referred to as “The Acquirers”) to the existing shareholders of Sparc Systems Limited (“Target Company”) to acquire up to 12,71,140 (Twelve Lakhs Seventy-One Thousand One Hundred Forty) fully paid-up equity Shares of Rs. 10.00/- each representing 26.00% of paid-up equity and voting share capital of the Target Company, at a price of Rs. 4.00/- (Rupees Four only) per equity share (the “Offer Price”) payable in cash (“Offer” or “Open Offer”), pursuant to Regulations 3(1) & (4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SEBI (SAST) Regulations”), from July 30, 2021 to August 12, 2021.
Letter of Offer is herewith attached for your perusal.
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.
Atul Dhotre
Senior Manager
Listing Sales & Ops
July 27, 2021
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