Open Offer for Neemtek Organic Products Ltd at Rs.10

Ashika Capital Ltd ("Manager to the Offer"), for and on behalf of Smt. Sarayu Somaiya ("the Acquirer") has issued this Public Announcement ("PA") to the shareholders of Neemtek Organic Products Ltd (Target Company), pursuant to regulation 10 & 12 and in compliance with Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").

The Offer

The Acquirer is making an Open Offer to the shareholders (other than the Sellers) of the Target Company to acquire upto 3,66,200 fully paid up equity shares of Rs 10/- each representing 20% of the existing outstanding equity share capital, at a price of Rs 10/- per fully paid-up equity share (Offer Price), payable in cash, in terms of Regulation 20 of the Regulations("Offer" or "Open Offer").

Schedule of Activities:

Specified Date: April 21, 2007
Date of Opening of the Offer: May 31, 2007
Date of Closing of the Offer: June 19, 2007

The stock last traded on March 26, 2007 at Rs.58.95. The stock had hit a 52 week high of Rs.76.40 and low of Rs.22.

Source : Equity Bulls

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