Pradeep Metals Post Offer Status

Inga Advisors Pvt Ltd ("Manager to the Offer") on behalf of Flashnet Info Solutions India Ltd ("Acquirer") along with M/s. S V Shah Constructions Services Pvt Ltd, Mr. Pradeep Goyal and Mr. Piyush Goyal (PACs), has issued this Post Offer Public Announcement to the equity shareholders of Pradeep Metals Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the Public Announcement ("PA") dated May 05, 2006 and Corrigendum to the Public Announcement dated October 19, 2006 and October 30, 2006 under the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997, to acquire upto 35,83,600 fully paid-up equity shares of Rs 10/- each representing 20.02% of the voting capital of the Target Company at a price of Rs 19.85/- per fully paid up equity share, payable in cash.

Details of acquisition:

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Item				Proposed in the 		Actuals
				offer document
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1. Offer Price			Rs 19.85/-			Rs 19.85/- 

2. Share acquired in the	35,83,600 (20.02) 		24,86,162 (13.89)
   open offer (No & %)

3. Post offer Shareholding	1,12,64,199 (62.92) 		1,01,66,761 (56.79)
   of Acquirer (No & %)
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Source : Equity Bulls

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