Arihant Capital Markets Ltd (“Manager to the Offer”), on behalf of M/s Neverloose Properties & Investment Pvt Ltd (“Acquirer”), has issued this Public Announcement (“PA”) to the Equity Shareholders of Golkunda Diamonds & Jewellery Ltd (“Target Company”), pursuant to and in compliance with, among others, regulation 11(1) of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto (‘Regulations’)
The Offer:
The Acquirer is making this Open Offer to the Shareholders of the Target Company except the Promoter Group to acquire upto 13,92,816 fully paid up equity shares of Rs 10/- each, representing 20% of the post issue equity voting capital of the Target Company at a price of Rs 12.00 per share (‘Offer Price’) payable in cash in terms of regulation 20 of the Regulations (‘Offer’ or ‘Open Offer’).
Schedule of Activities:
Specified Date – January 30, 2009
Date of Opening of the Offer – February 25, 2009
Date of Closing of the Offer – March 16, 2009
In a related development, Avery India’s Open Offer stands revised.
Date of Opening of the Offer is now Jan 09, 2009 and Date of Closing of the Offer is Jan28, 2009.