Fusion Fittings - Open Offer
Chartered Capital & Investment Ltd ("Manager to the Offer") for and on behalf of Experienced Hi-Tech Consultancy Services Pvt Ltd & Vasundhra Technologies (India) Pvt Ltd ("Acquirers") has issued this Public Announcement ("PA") to the Equity shareholders of Fusion Fittings India Ltd ("Target Company"), pursuant to Regulation 10 & Regulation 12 as required under the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 ["the SEBI (SAST) Regulations, 1997"] and subsequent amendments thereto
The Offer
The Acquirers intend to make an Open Offer in terms of the SEBI (SAST) Regulations, 1997 to the shareholders of Target Company to acquire in aggregate 10,97,160 equity shares of Rs 10/- each representing 20% of the total issued equity share capital and resultant voting rights of Target Company at a price of Re 1.00/- (Rupee One only) per fully paid up equity Share (Offer Price) payable in cash, subject to the terms & conditions mentioned in the PA.
There are 25,51,600 partly paid up equity shares in the Company in respect of which an aggregate amount of Rs 1,37,45,250.00 is unpaid / Calls-in-arrears. The Shareholders holding partly paid up shares are eligible to participate in this open offer only after payment of unpaid amount / Calls-in-arrears along with interest, if any.
Schedule of Activities:
Specified Date - April 21, 2008
Date of Opening of the Offer - May 14, 2008
Date of Closing of the Offer - June 02, 2008
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