|Opening of Offer to Buy – Acquisition Window (Buyback) Asahi Songwon Colors 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. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 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 Asahi Songwon Colors Limited has offered to Buy-back up to 2,45,000 (Two Lakh Forty Five Thousand Only) fully paid-up equity shares of Asahi Songwon Colors Limited of Face Value of RS 10/- each (“EQUITY SHARES”), representing 2.00% of the Issued, Subscribed and Paid-up equity shares of the company, from all eligible shareholders as on the record date, i.e., Friday, November 20, 2020 on a proportionate basis, through the ‘TENDER OFFER’ PROCESS, at as price of RS. 330/- (Rupees Three Hundred and Thirty Only) per equity share, payable in cash, for an aggregate maximum amount not exceeding Rs. 8,08,50,000 (Rupees Eight Crore Eight Lakhs and Fifty Thousand Only) excluding the transaction costs, from Thursday, December 10, 2020 to Wednesday, December 23, 2020.
Letter of Offer is herewith attached.
Market participants are further requested to note that this offer will be as per the SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Listing Sales & Ops
December 4, 2020