Wintac: Updates on open offer

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Arihant Capital Markets Ltd ("Manager to the Open Offer") on behalf of GAVIS Pharma LLC, U.S.A ("Acquirer" / "GAVIS") together With Kali Capital LP, U.S.A. ("PAC" / "KALI"), has informed this Detailed Public Statement ("DPS") in respect of the Open Offer to the Equity Shareholders of the Wintac Ltd (Earlier known as Recon Ltd) ("Target Company") in compliance with Regulation 13(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ("SEBI (SAST) Regulations") pursuant to the Public Announcement filed on January 28, 2013 with the Stock Exchange/ Securities and Exchange Board of India (SEBI) / Target Company in terms of Regulations 3(1) and 4 of the SEBI (SAST) Regulations.The Offer:This Open offer is being made pursuant to Regulations 3(1) and 4 of the SEBI (SAST) Regulations to the equity shareholders of the Target Company by Acquirer to acquire 26,06,303 equity shares of Rs. 10 each representing 26% of the post preferential allotment fully diluted paid up equity voting share capital of the Target Company, at a price of Rs. 100/- per share ("Offer Price") payable in cash subject to the terms & conditions mentioned in this Open Offer.Tentative Schedule of Activity:Identified Date - March 07, 2013Date of Commencement of tendering Period (Open Date) - March 21, 2013Date of expiry of tendering Period (Closure Date) - April 08, 2013Source : BSE

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