Millars India Open Offer at Rs.80 per share

LKP Shares and Securities Ltd ("Manager to the Offer"), for and on behalf of Skyline Vision Pvt Ltd., Dave Builders Pvt Ltd and Jatin Daisaria Realtors Pvt Ltd ("Acquirers") along with Mr. Khyalilal M Tater, Mr. Jitendra M Tater, Mr. Harshad P Dave, Mr. Jaysinh Dave, Mr. Maulik Dave, Mr. Jatin V Daisaria and Mrs. Urmi Manoj Daisaria (Person Acting in Concert or PAC's) has issued this Public Announcement ("PA") to the equity shareholders of Millars India Ltd (Target Company), pursuant to Regulations 10 & 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto (the "Regulations") has announced as below:

The Offer:

The Acquirers & PAC's are making an offer to the shareholders of Target Company other than the existing promoter group to acquire upto 5,34,485 fully paid up equity shares of Rs 10 each of the Target Company representing 20% of the Post Issue Equity Capital and of the Post Issue voting capital in terms of Regulation 21(1) of the Regulations on the terms and subject to conditions stated below at a price of Rs 80.00 per fully paid up equity share (the "Offer Price") payable in cash in terms of Regulation 20 of the Regulations (the "offer").

Schedule of Activities

Specified Date: December 11, 2006

Date of Opening of the Offer: January 25, 2007

Date of Closing of the Offer: February 13, 2007

Source : Equity Bulls

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