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Parnami Credits informs about Updates on Open Offer

28 Jul 2015 Evaluate

Saffron Capital Advisors (Manager to the Offer), on behalf of, Rakeshchand M. Jain (the Acquirer), has informed this Corrigendum to the Detailed Public Statement to the Equity Shareholders of Parnami Credits (Target Company) pursuant to Regulation 18(7) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto, (SEBI (SAST) Regulations) in respect of the open offer (Offer) for acquisition of up to 871728 (Eight Lacs Seventy One Thousand Seven Hundred Twenty Eight only) fully paid-up equity shares of face value of Rs 10 each (Equity Shares), representing 26% of the total share capital of on a fully diluted basis, as of the tenth working day from the date of 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 Rs12 per equity share (the Offer). The Detailed Public Statement (DPS) with respect to the aforementioned Offer was published on April 07, 2015. This Corrigendum is being issued pursuant to changes/amendments advised by SEBI vide its letter dated July 17, 2015. Capitalized terms used in this Corrigendum but not defined herein shall have the same meaning as assigned to them in the DPS. This Corrigendum is being issued in all the newspapers in which the original DPS was published.

The above information is a part of company’s filings submitted to BSE.

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