Open Offer for Scana Color at Rs.4.50

Aryaman Financial Services Ltd ("Manager to the Offer") on behalf of Mr. Rajesh G Mehta & Mrs. Bhavna Rajesh Mehta ("Acquirers") has issued this Public Announcement ("PA") to the shareholders of Scana Color (India) Ltd ("Target Company") pursuant to Regulation 10 & 12 and other provisions of Chapter III and in compliance with the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) (SAST) Regulations, 1997 and subsequent amendments thereto ("Regulations"), has announced as below:

The Offer

The Acquirers proposed to acquire minimum 6,00,000 equity shares representing 20% of the voting capital of the Target Company from the existing shareholders through the Open Offer at the rate of Rs 4.50/- per equity share for each fully paid up share ("Offer Price").

Schedule of Activities

Specified Date: February 13, 2007

Date of Opening of the Offer: March 09, 2007

Date of Closing of the Offer: March 28, 2007

Source : Equity Bulls

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