|Opening of Offer to Buy – Acquisition Window (Takeover) Continental Chemicals 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 is made by Mr. Aditya Vikram Chibba (“Acquirer”) along with person acting in concert Mr. Naresh Kumar Chibba (“PAC”) to the existing shareholders of Continental Chemicals Limited (herein referred to as the “Target Company”) to acquire up to 5,84,740 (Five Lakh Eighty Four Thousand Seven Hundred and Forty Only) equity shares of Rs. 10/- each, representing 26% of the total post preferential paid up equity share capital of the Target Company at a price of Rs. 13/- (Rupees Thirteen Only) per fully paid up equity share payable in Cash, pursuant to the Regulation 3(1) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“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