Exdon Trading Updates on Open Offer

Ashika Capital Ltd ("Manager to the Offer"), on behalf of Mr. Ashokkumar Shah ("Acquirer") and Mr. Mansukhbhai Vagasia ("Person Acting in Concert" or "PAC") has issued this Corrigendum to the Public Announcement ("PA") to the shareholders of Exdon Trading Company Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the Original Public Announcement ("PA") dated September 08, 2006, pursuant to and in compliance with Regulation 10 & 12 of Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations"), the Shareholders are requested to kindly note the following:

1. Option in terms of Regulation 21:

In the event, pursuant to this Offer, the Public Shareholding in the Target Company falls below 25% of its outstanding equity share capital, the Acquirer and PAC will, in accordance with Regulation 21(2) of the SEBI (SAST) Regulations, 1997, facilitate the target Company to raise the level of Public Shareholding to the level specified for continuous listing in the Listing Agreement with the stock exchanges within the specified time and in accordance with the prescribed procedure under amended clause 40A(viii) of the Listing Agreement and in compliance with SEBI (SAST) Regulations, 1997.

2. Revised schedule of Activities is as follows:

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Activity				Original Schedule		Revised Schedule
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Specified Date			September 15, 2006		September 15, 2006
Date of Opening of the Offer	October 27, 2006		December 15, 2006
Date of Closing of the Offer	November 15, 2006		January 03, 2007
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All other terms and conditions of the Offer remain unchanged.

Source : Equity Bulls

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