Sesa Goa Open Offer for 20% stake at Rs.2036.30

ICICI Securities Primary Dealership Ltd ("ICICI Securities") ("Manager to the Offer") on behalf of Westglobe Ltd, Mauritius ("Westglobe") and Richter Holding Ltd, Cyprus (Richter Holding) ("Acquirers") along with Vedanta Resources Plc., U K (Vedanta Resources) (Person Acting in Concert / PAC) has issued this Public Announcement ("PA") to the equity shareholders of Sesa Goa Ltd ("Target Company"), pursuant to and in compliance with Regulations 10 and 12 and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("SEBI (SAST) Regulations or "Regulations"). Westglobe will acquire all the equity shares of the Target Company that are validly tendered as per terms of the offer up to a maximum of 78,72,404 equity shares.

The Offer

The Acquirers and the PAC are making an open offer to acquire up to 78,72,404 fully paid up equity shares of the face value of Rs 10 each ('Shares'), representing in the aggregate 20% of the paid up equity share capital of the Target Company at a price of Rs 2036.30 per share (Offer Price) payable in cash subject to terms and conditions mentioned in PA. The offer is being made to all the public shareholders of the Target Company.

Schedule of Activities

Specified Date - May 25, 2007
Date of Opening of the Offer - June 21, 2007
Date of Closure of the Offer - July 10, 2007

Source : Equity Bulls

Keywords