Open Offer for Petron Engineering at Rs.180

Enam Financial Consultants Pvt Ltd ("Manager to the Offer") on behalf of KazStroyService PLC ("Acquirer") alongwith OGCC KazStroyService, JSC ("PAC") has issued this Public Announcement to the shareholders of Petron Engineering Construction Ltd ("Target Company"), pursuant to regulation 10 and 12, in compliance with the 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 offer to the shareholders (other than the parties to the SPA's) of the Target Company to acquire 1,507,680 fully paid up equity shares of Rs 10/- each of Target Company, representing 20% of the outstanding voting equity share capital of the Target Company, at a price of Rs 180/- per fully paid up equity share ("Offer Price") payable in cash in terms of regulation 20 and 21 of the Regulations (the "Offer" or "Open Offer").

Schedule of Activities

Specified Date: June 25, 2007

Date of Opening of the Offer: August 14, 2007

Date of Closing of the Offer: September 03, 2007

Source : Equity Bulls

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