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Zuari Agro Chem
BSE: 534742NSE: ZUARIISIN: INE840M01016

4th-Dec-2014 20:01Source: BSE

Zuari Agro Chem - Open Offer to the Mangalore Chemicals & Fertilizers

ICICI Securities Ltd ("Manager to the Open Offer") has submitted to BSE a Copy of Public Announcement ("PA") regarding Voluntary Open Offer for acquisition of up to 3,07,00,000 (three crore seven lakh) fully paid-up equity shares of face value of Rs. 10 (rupees ten) each (“equity shares”) of Mangalore Chemicals & Fertilizers Limited (“Target company”) from the public shareholders of the Target Company by Zuari Fertilisers and Chemicals Limited (“acquirer”) together with Zuari Agro Chemicals Limited, as the person acting in concert (“pac”) with the acquirer (the “Offer” / “Open Offer”), pursuant to and in compliance with Regulation 6, Regulation 13(3), Regulation 15(1) and other applicable regulations of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SEBI Takeover Regulations”).

Offer Details

Offer Size: The Acquirer and the PAC hereby make this Offer to the Public Shareholders to acquire up to 3,07,00,000 (Three Crore Seven Lakh) Equity Shares constituting 25.90% (Twenty Five point Nine Per Cent) of the fully diluted voting equity share capital (being the total paid-up share capital of the Target Company as of the 10th (tenth) working day from the date of closure of the tendering period for the Offer, hereinafter referred to as ‘Voting Share Capital’), at a price of INR 91.92 per Equity Share (“Offer Price”) aggregating to INR 282,19,44,000 (Rupees Two Hundred and Eighty Two Crore, Nineteen Lakhs, Forty Four Thousand only), subject to the terms and conditions mentioned in this Public Announcement, the detailed public statement that will be published in connection to the Offer (“Detailed Public Statement”) and the letter of offer that is proposed to be issued in accordance with the SEBI Takeover Regulations.

Offer Price / Consideration: The Offer Price of INR 91.92 (Rupees Ninety One and Paise Ninety Two only) payable per Equity Share is calculated in accordance with Regulation 8(1) and 8(2) of the SEBI Takeover Regulations.

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