4th-Jun-2012 17:48
Source: BSE
Hasti Finance - Updates on Open Offer 
Ashika Capital Ltd ("Manager to the Offer") for and on behalf of Mr. Sonal Nitin Somani & Mr. Nitin Prabhudas Somani ("Acquirer") has informed this Corrigendum to the Public Announcement to the Equity Shareholders of Hasti Finance Ltd ("Target Company"), which is in continuation of & should be read in conjunction with the Public Announcement ("PA") published on March 07, 2012 under Regulation 11(1) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("SEBI (SAST) Regulations, 1997).
The shareholders are requested to kindly note the following:
1. As per the SEBI (SAST) Regulations, 1997, the interest should be paid to the shareholders of the Target Company for the period of delay i.e. from the date of triggering of the Open Offer (June 21, 2011) till the actual date of PA (March 07, 2012). However, the Acquirers, in the larger interest of the shareholders of the Target Company and adopting good corporate governance practices, agrred to pay interest from June 2l, 201l (Date of triggering of the Open Offer) till May 18, 2012 (Date of payment as per the original Activity Schedule) @ 10% per annum which works out to Rs. 7.50 per share. Accordingly the shareholders of the Target Company will be paid the Offer Price as per the SEBI (SAST) Regulations, 1997 i.e. Rs. 82.50 per share plus interest of Rs. 7.50 per share for the period of delay aggregating to Rs. 90.00 per share.
2. Mr. Manoj Prabhudas Somani & Ms Lucky Manoj Somani are not Person Acting in Concert for the purpose of this Offer.
3. The Schedule of activites pertaining to the Offer is as under:
------------------------------------------------------------------------------------------
Activity Original Schedule Revised Schedule
------------------------------------------------------------------------------------------
Specified Date March 31, 2012 March 31, 2012
Date of Opening of the Offer April 19, 2012 June 06, 2012
Date of Closing of the Offer May 08, 2012 June 25, 2012
------------------------------------------------------------------------------------------
NSE: 
