Wealth Sea Pte Ltd and Manali Properties & Finance Pvt Ltd announces Open Offer for Dunlop India

Microsec Capital Ltd ("Manager to the Offer") on behalf on Wealth Sea Pte Ltd ("Acquirer") and Manali Properties & Finance Pvt Ltd ("PAC") as a Person Acting in Concert, has issued this Public Announcement ("PA") to the shareholders of Dunlop India Ltd ("Target Company"), in compliance of the order dated November 01, 2006 against Wealth Sea Pte Ltd ("Acquirer"), under section 11 & 11B of SEBI Act 1992 read with regulation 44 & 45(6) Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 ("Regulations"). This Public announcement is made in accordance with the aforesaid order and under Regulation 10 of Chapter III of the SEBI (SAST) Regulation, 1997 ("Regulations").

The Offer:

In deference to the SEBI order dated November 01, 2006, the Acquirer and PAC are making an Offer to the shareholders of target Company as required under chapter III of the Regulations in terms of Regulations 10 taking November 28, 2005 as the reference date, to acquire up to 89,97,859 Equity Shares representing upto 20% of the voting equity share capital of the Target Company at an Offer price of Rs 10/- per fully paid-up Equity Share of Rs 10/- each payable in cash.

Further, interest @10% p.a. shall be paid to the eligible affected shareholders on total consideration w.e.f. June 02, 2006.

Schedule of Activities

Specified Date - February 23, 2007

Offer Opening Date - March 24, 2007

Offer Closing Date - April 12, 2007

Source : Equity Bulls

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