First Carlyle Ventures acquires 4.93% stake in Allsec Technologies

First Carlyle Ventures Mauritius ("FCVM") has announced that on October 12, 2006 it has acquired 750,000 fully paid up equity share ("Shares") of Rs 10/- each of Allsec Technologies Ltd ("Company")at a price of Rs 258.50 per equity share from Euronet ("Euronet"). The Shares constitute 4.93% of the current paid up share capital of the Company and have been acquired by FCVM from Euronet by an off-market transfer.

In light of the Public Announcement issued by FCVM under Regulation 10 of the Takeover Code on August 29, 2006 and the Open offer to made by FCVM pursuant thereto ("Open Offer"), this disclosure is being made under Regulation 22(17) of the Takeover Code.

The price of Rs 258.50 per Share paid by FCVM to Euronet is less than the price of Rs 260.00 per share payable by the acquirer under the Open Offer. Accordingly, the acquisition of Shares from Euronet will not impact the price payable to the shareholders of the Company who tender their shares in the Open Offer.

Source : Equity Bulls

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