| Opening of Offer to Buy – Acquisition Window (Buyback) for Pressman Properties Limited. |
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 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, 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 Pressman Properties Limited (the “Company”), has announced cash offer to Buyback not exceeding 8,43,750 (Eight Lakhs Forty Three Thousand Seven Hundred Fifty) fully paid up equity shares of face value of Rs. 10/- each representing 25% of the total number of equity shares in the issued, subscribed, paid up equity share capital of the Company from all the existing shareholders/beneficial owners of the Company as on the record date i.e. 03.10.2018 on a proportionate basis through the tender offer route at a price of Rs. 91/- (Ninety One Only) per equity share for an aggregate amount Rs. 7,67,81,250/- (Rupees Seven Crores Sixty Seven Lakhs Eighty One Thousand Two Hundred Fifty Only) from December 04, 2018 to December 17, 2018.
Market participants are requested to note that the Company is listed on The Calcutta Stock Exchange Limited.
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 the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
November 30, 2018
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