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 (“Offer”) is made by Mrs. Nikita D. Kothari, W/o. Mr. D. Kothari (Hereinafter referred to as “the Acquirer”) to the existing public shareholders of Servoteach Industries Limited (“Target Company”) to acquire up to 10,21,540 (Ten Lakhs Twenty-One Thousand Five Hundred and Forty) Equity Shares of the face value of Rs. 10/- each, representing 26.00% of the existing equity and voting share capital of the Target Company at a price of Rs. 3.00/- per share (“Offer Price”) payable in cash, to the Public Shareholders of the Target company pursuant to Regulation 3(1) and Regulation 4, of the SEBI (SAST) Regulations, 2011, and subsequent amendments thereof for the substantial acquisition of shares/voting rights accompanied with a change in control, from September 01, 2023 to September 14, 2023.
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.
Mangesh Tayde
Deputy General Manager
Listing Sales & Ops
August 29, 2023 |