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, 20201102-43 dated 02 Nov 2020, 20210825-62 dated Aug 25,2021 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 (“Offer”) is made by Thriveni Earthmovers Private Limited (“Acquirer 1”), Sky United LLP (“Acquirer 2”) and Shree Global Tradefin Limited (“Acquirer 3”) (Acquirer 1, Acquirer 2 and Acquirer 3, existing promoters of the Target Company, hereinafter collectively referred to as “Acquirers”) to the existing public shareholders of Lloyds Metals and Energy Limited (“Target Company”) to acquire up to 11,28,04,137 fully paid-up equity shares of face value of Re.1 each (“Offer Shares”) at a price of Rs.137 per equity share (“Offer Price”) payable in cash, representing 25.37%* of the voting share capital, pursuant to and in compliance with the provisions of Regulation 3(2), Regulation 3(3), Regulation 5(1) and other applicable regulations of the SEBI (SAST) Regulations, from September 16, 2022 to September 29, 2022.
*As per the SEBI (SAST) Regulations, the open offer is required to be for at least 26% of the total share capital of a target company, as of the 10th Working Day from the closure of the tendering period for the open offer. However, the shareholding of the Equity Shareholders (as defined below) is only 25.37% of the Voting Share Capital (as defined below), and therefore, the Offer Shares (as defined below) represent 25.37% of the Voting Share Capital
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
September 12, 2022 |