| Opening of Offer to Buy – Acquisition Window (Takeover) for Trescon Limited (formerly known as Pushpanjali Floriculture 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 Open Offer (“Offer”) by Mr. Dinesh Ravilal Patel (“Acquirer 1”), Mr. Kishor Ravilal Patel (“Acquirer 2”), Mr. Sanjay Navin Mehta (“Acquirer 3”) and Mr. Vilas Pralhadrao Kharche (“Acquirer 4”) (Acquirer 1, Acquirer 2, Acquirer 3 and Acquirer 4 are jointly referred to as the “Acquirers”) along with Ms. Nayana Ravilal Patel (“PAC 1”), Ms. Ranjan Dinesh Patel (“PAC 2”), Ms. Hemlata Manish Patel (“PAC 3”), Ms. Trupti Mitul Patel (“PAC 4”), Mr. Viraj Dinesh Patel (“PAC 5”), Ravilal Shivgan Patel HUF (“PAC 6”), Ms. Krupa Manish Patel (“PAC 7”), Kishor Ravilal Patel HUF (“PAC 8”), Mr. Rajesh Ravilal Patel (“PAC 9”), Mr. Ravilal Keshra Patel (“PAC 10”), Mr. Hiralal Keshra Patel (“PAC 11”), Ms. Ratilal Keshra Patel (“PAC 12”), Mr. Harilal Keshra Patel (“PAC 13”), Mr. Nemish Sanjay Mehta (“PAC 14”) and Mr. Rohit Vilas Kharche (“PAC 15”) to the equity shareholders of Trescon Limited (formerly known as Pushpanjali Floriculture Limited) (hereinafter referred to as the “Target Company”) for the acquisition of 1,88,46,516 fully paid-up equity shares of Rs.10/- each (“the Equity Shares”), representing 26% of the Diluted Share & Voting Capital (“the Offer Size”) at Rs. 14/- (Rupees Fourteen Only) per fully paid-up equity share (“the Offer Price”) payable in Cash pursuant to regulations 3(1) & 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“SEBI (SAST) Regulations”) from December 10, 2018 to December 21, 2018.
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
December 04, 2018 |