Asian Oilfield Open Offer at Rs.20.50

Chartered Capital and Investment Ltd ("Manager to the Offer"), on behalf of M/s. Consolidated Securities Ltd ("Acquirer") has issued this Public Announcement ("PA") to the equity shareholders of Asian Oilfield Services Ltd (Target Company), pursuant to and in compliance with, among others, Regulation 10 & 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997, as amended from time to time (the "Regulations") issued by the Securities and Exchange Board of India ("SEBI") has announced as below:

The Offer:

Pursuant to this Offer, the Acquirer proposes to acquire 17,15,420 fully paid up equity shares ("Shares") of the Target Company (the "Offer Size") representing 20% of the fully expanded voting equity capital of the Target Company (including the entire share allotment as well as warrants) at a price of Rs 20.50 for each fully paid-up equity share of the Target Company (the "Offer Price"), to be paid in cash, subject to the terms and conditions.

Schedule of Activities

Specified Date: December 11, 2006

Date of Opening of the Offer: January 24, 2007

Date of Closing of the Offer: February 12, 2007

Source : Equity Bulls

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