Uniply Industries’ founder promoter to acquire 14.19 lakh shares

Uniply Industries’ founder Promoter B.L.Bengani is intending to acquire the shareholding of another Promoter Raimcom Sales on or after September 26, 2013. B.L.Bengani is currently holding 30.53 lakh equity shares of the company and intends to acquire 14.19 lakh equity shares held by Raimcom Sales.

Taking into consideration regulation 10 of Substantial Acquisition of shares and Takeover (SEBI) Regulations 2011 although the said acquisition aggregates to above 5% it does not require an open offer since it is a transfer between Promoter/Promoter Group which is exempt under the said section.