| Opening of Offer to Buy – Acquisition Window (Takeover) for Sonal Mercantile 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 M/s. Ram Gopal Goyal & Sons LLP (“Acquirer No. 1”), Mr. Vikram Goyal (“Acquirer No. 2”) & Mr. Rajan Goyal (“Acquirer No. 3”) to acquire 38,32,020 (Thirty Eight Lakhs Thirty Two Thousand and Twenty) fully paid up equity shares of the face value of Rs. 10/- each (Rupees Ten Only) ("Offer Shares"), being constituting 26.00% of the equity share Capital of Sonal Mercantile Limited (“Target Company”) at a price of Rs. 15.30/- (Rupees Fifteen and Thirty Paisa Only) (“Offer Price”) per fully paid-up equity share payable in cash pursuant to Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“SEBI (SAST) Regulations”) and subsequent amendments thereto from September 18, 2018 to October 03, 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.
Amrin Memon
Deputy Manager
Listing Sales
September 11, 2018 |