Sesa Goa to revise schedule for Open Offer

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 Corrigendum to the Public Announcement ("PA") to the equity shareholders of Sesa Goa Ltd ("Target Company"), which is in continuation of & shall be read in conjunction with the original public announcement dated on April 27, 2007, 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]. The shareholders of the Target Company are requested to note the following:

In terms of Regulation 18(1) of the SEBI (SAST) Regulations, the draft Letter of Offer had been submitted to Securities and Exchange Board of India ("SEBI") on May 09, 2007 on which observations in terms of first provision to Regulation 18(2) of the SEBI ("SAST") Regulations are awaited from SEBI. Hence, the proposed date of opening of the open offer stated in the public announcement i.e. June 21, 2007 is postponed till further notice in this regard is published by the Manager to the Offer. Subject to the observations from SEBI, all other terms and conditions of the open offer as set forth in the public announcement published on April 27, 2007 remain unchanged.

After receiving SEBI’s observations, the revised schedule of the activities pertaining to acquisition of the equity shares of the Target Company will be announced through a public announcement by the Manager to the Offer.

The terms used but not defined in this Public Announcement shall have the same meanings assigned to them in the public announcement published on April 27, 2007 and the Letter of Offer.

Source : Equity Bulls

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