| Opening of Offer to Buy – Acquisition Window (Takeover) for Chokhani Securities 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”) is made by Poshika Advisory Services LLP (“Acquirer 1”) and Mr. Shachindra Nath (“Acquirer 2”) (Acquirer 1 and Acquirer 2 are collectively referred to as the “Acquirers”) to acquire upto 1,886,726 Equity Shares of face value of Rs. 10 each representing 26.0% of the Emerging Share Capital of Chokhani Securities Limited (“Target Company) at a price of Rs. 129 (Rupees One Hundred and Twenty Nine) per Equity Share (“Offer Price”), payable in cash, pursuant to Regulation 3(1), 4 and other applicable regulations of SEBI (SAST) Regulations 2011, from June 01, 2018 to June 14, 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 Ops & Sales
May 25, 2018 |