Saffron Capital Advisors (Manager to the Offer), for and on behalf of the Rakeshchand M. Jain (Acquirer) has submitted a Detailed Public Statement (DPS) being issued to the Equity Shareholders of Parnami Credits Ltd (Target Company). Open Offer for acquisition of up to 8,71,728 fully paid-up equity shares of Face Value of Rs 10 each, representing 26% of the total share capital of Target Company on a fully diluted basis, as of the tenth working day from the Closure Of the Tendering period of the open offer (voting share capital), from the eligible Shareholders of the Target Company for cash at a Price of Rs 12 per equity share by Rakeshchand m. Jain. This Detailed Public Statement is being issued by the manager to the offer (manager), for and on behalf of the acquirer in Compliance with regulation 13(4) and 15(2) of the Securities and Exchange Board of India (substantial acquisition of shares and takeovers) regulations, 2011, and subsequent Amendments thereto, (takeover regulations), pursuant to the Public Announcement (PA) filed with BSE Ltd on March 27, 2015, in terms of Regulation 4 of the takeover regulations. The PA was filed with the Securities and Exchange Board of India (SEBI) and sent to the Target Company by way of letters dated March 27, 2015, in terms of Regulations 14(2) of the takeover Regulations. Acquirer is making this Offer to all the equity shareholders of the Target Company, other than the Acquirer and the Sellers of the Target Company (Equity Shareholders), to acquire up to 871728 equity shares of Face Value Rs 10 each, representing 26% of the total share capital of the Target Company (Voting Share Capital). This Offer is being made at a Price of Rs 12 per fully paid up equity share of face value Rs 10 each of the Target Company, payable in cash in accordance with Regulation 9(1)(a) of the Takeover Regulations. Tentative Schedule of the Activities - Identified Date: May 12, 2015, Date of commencement of Tendering Period (Offer Opening Date): May 26, 2015, Date of Expiry of Tendering Period (Offer Closing Date): June 08, 2015.
The above information is a part of company’s filings submitted to BSE.