Shyam Star announces Open Offer to the shareholders of Corcomp Infosystems

Shyam Star Gems Ltd consortium has issued public announcement to the shareholders of Corcomp Infosystems Ltd ("Target Company"), pursuant to Regulation 10 and 12 and other applicable provisions of Chapter III and in compliance with the Securities & Exchange Board of India (Substantial Acquisition of Shares & takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").

The acquirers and PACs proposed to acquire minimum 40,000 equity shares representing 20% of the voting capital of the Target Company from the existing shareholders through the Open Offer at the rate of Rs 142/- per equity share for each fully paid up share.

The shares of the company were trading up Rs.1.55 or 4.87% at Rs.33.40. The stock was frozen at the upper limit of circuit filter with pending buy order for 70919 shares. The total traded quantity was 8160 shares compared to 2 week average of 5295.

Source : Equity Bulls

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