Updates on Open Offer for Fairfield Atlas

ICICI Securities Primary Dealership Ltd ("Manager to the Offer") on behalf of OC Oerlikon Corporation AG, Pfaffikon, Switzerland ("Acquirer") and TH Licensing Inc., USA, being a person acting in concert ("PAC") has issued this Public Announcement to the equity shareholders of Fairfield Atlas Ltd ("Target Company"), which is in continuation of & should be read in conjunction with the Public Announcement ("PA") dated February 09 & 10, 2007 & a subsequent public announcement dated March 23, 2007, in compliance with Regulations 10 & 12 and other applicable provisions of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations 1997 and subsequent amendments thereto (SEBI (SAST) Regulations) read with observations made by SEBI vide letter dated June 22, 2007. The terms used but not defined in this public announcement shall have the same meanings assigned to them in the original public announcement and corrigenda issued in continuation thereto, and the Letter of Offer.

The shareholders of the Target Company are requested to note the following:

1. This Offer is being made as result of the global acquisition of Saurer AG by Oerlikon, resulting in the Indirect acquisition of the Target Company by Oerlikon, in accordance with Regulations 10 & 12 read with other applicable provisions of the SEBI (SAST) Regulations.

2. The Revised Schedule of activity is as under:

----------------------------------------------------------------------------
Activity			Original Schedule	Revised Schedule
----------------------------------------------------------------------------
Specified Date			March 06, 2007		March 06, 2007
Date of Opening of the Offer	March 30, 2007		July 06, 2007
Date of Closing of the Offer	April 18, 2007		July 25, 2007
----------------------------------------------------------------------------

Source : Equity Bulls

Keywords