|Opening of Offer to Buy – Acquisition Window (Takeover) for Frontier Informatics 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 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. 20190424-35 dated April 24, 2019, 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 Open Offer by Ramarao Atchuta Mullapudi (“Acquirer”) together with the person acting in concert Harika Vardhani Mullapudi (“PAC”) to acquire upto 2,46,88,352 (Two Crore Forty Six Lacs Eighty Eight Thousand Three Hundred Fifty Two) (“Offer Shares”), fully paid up equity shares of the face value of Rs. 1 each, representing 26% (Twenty Six Per Cent) of the total Emerging Voting Share Capital (“Offer Size”) from the Public Shareholders of the Frontier Informatics Limited (“Target Company”) at a price of Rs. 3.50 (Rupees Three And Paise Fifty Only) per Share (“Offer Price”) payable in cash pursuant to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (as amended) (SEBI (SAST) Regulations, from November 14, 2019 to November 27, 2019.
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.
Additional General Manager
Listing Sales & Ops
November 11, 2019