Open Offer for Shirpur Gold at Rs.54.75

Vivro Financial Services Pvt Ltd ("Manager to the Offer") on behalf of Jayneer Capital Pvt Ltd ("Acquirer") has issued this public announcement to the shareholders of Shirpur Gold Refinery Ltd ("Target Company"), pursuant to and in compliance with Regulations 10 and 12 of Chapter III of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 & subsequent amendments thereto ("SEBI (SAST) Regulations, 1997" or "the Regulations"). No person is acting in Concert ("PAC") with the acquirer for the purpose of this Open Offer. This offer is not pursuant to any global acquisition resulting in an indirect acquisition of Shares of Target Company.

The Offer

The Acquirer proposes to make an Open Offer to the shareholders of Target Company to acquire from them 76,25,625 fully paid up equity shares of Rs 10/- each, representing 49% of the paid up equity share and voting rights in Target Company at a price of Rs 54.75/- per share ("Offer Price") payable in cash subject to the terms and conditions mentioned in PA.

Schedule of Activities

Specified Date: July 11, 2007

Date of Opening of the Offer: August 17, 2007

Date of Closing of the Offer: September 05, 2007

Source : Equity Bulls

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