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Stock Report
Asian Oilfield announces Post Open Offer Status
Posted On : 2007-06-12 09:04:19( TIMEZONE : IST )
Chartered Capital and Investment Ltd ("Manager to the Offer"), on behalf of M/s. Consolidated Securities Ltd ("Acquirer") has issued this Post Offer Public Announcement to the shareholders of Asian Oilfield Services Ltd (Target Company), which is in continuation of and should be read in conjunction with the Public Announcement ("PA") dated December 05, 2006 & Corrigendum Public Announcement on April 26, 2007, under Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations") to acquire upto 17,15,420 equity shares of Rs 10 each representing 20% of the fully expanded voting equity capital of the Target Company (including the entire share allotment as well as warrants) at a consolidated price of Rs 21.06 per fully paid-up equity share of Rs 10 each comprising of the offer price of Rs 20.50 per fully paid up equity share of Rs 10/- each and the interest of Rs 0.56 calculated @ 10% p.a. for the delayed period from February 27, 2007 to June 06, 2007, payable in cash ("the Offer").
Date of Opening of the Offer : May 03, 2007 (As per revised schedule)
Date of Closing of the Offer : May 22, 2007 (As per revised schedule)
The shareholders of the Target Company may please note the following:
Details of Acquisitions
------------------------------------------------------------------------------------------ Item Proposed in the Actual Offer document ------------------------------------------------------------------------------------------ 1. Consolidated Price payable Rs 21.06 Rs 21.06 to Shareholders in the Open Offer (Per Share) 2. Shares acquired in the 17,15,420 (20%*) Nil Open Offer (No & %) 3. Post Offer Shareholding 33,65,420 (48.03%) 16,50,000 (23.55%) of Acquirer (No & %) ------------------------------------------------------------------------------------------* % has been calculated on fully expanded voting equity capital of the Target Company including the entire share allotment as well as warrants issued on Preferential basis.
