1st-Apr-2008 15:09Source: BSE

Parry Agro - Updates on Delisting Offer

Enam Securities Pvt Ltd ("Manager to the Offer") on behalf of New Ambadi Estates Pvt Ltd ("Acquirer") has issued this Public Announcement to the shareholders of Parry Agro Industries Ltd ("Target Company"), which is in continuation of & should be read in conjunction with the original PA dated March 08, 2008, in respect of the proposed acquisition & delisting of the fully paid-up equity shares of the Target Company pursuant to & in compliance with the Securities & Exchange Board of India (Delisting of Securities) Guidelines, 2003 ("Guidelines"). The shareholders holding equity shares in a dematerilised form submitted their Bids on the online electronic system with the BSE & the bidding closed on March 28, 2008. The price at which the maximum number of shares have been tendered under the reverse book-building process is Rs 1950/- & accordingly it is the "Discovered Price" as per the Guidelines. The Acquirer accepts the Discovered Price of Rs 1950/- for each fully paid-up equity share of the company & has determined the Discovered Price of Rs 1950/- as the final price for acquisition of the shares ("Exit Price"). Consequently, the Acquirer will accept all the bids at or below the Exit Price & the shareholders who have tendered their Shares at or below the Exit price will be paid the consideration at the Exit Price of Rs 1950/- for each fully paid-up equity share of the Company. The final settlement date in respect of all valid bids which have been tendered at prices less than or equal to the Exit Price is April 02, 2008. The Acquirer would soon initiate necessary steps to delist the equity shares of the Company from the BSE. The Acquirer will be pleased to accept equity shares from the shareholders holding equity shares in physical form at the Exit Price of Rs 1950/- per fully paid-up equity share of the Company till April 17, 2008. The date of closing of the Offer for the holders of physical shares i.e. April 17, 2008. No indemnity shall be required from the unregistered shareholders. The Acquirer undertakes to accept the shares held by the remaining shareholders at the Exit Price of Rs 1950/- per equity share for a period of 6 months from the date of delisting of the equity shares from BSE in terms of the Guidelines.