TCM Open Offer at Rs.5.92 including interest

Systematix Corporate Services Ltd ("Manager to the Offer") on behalf of Mr. Joseph Varghese, Mr. Thirugnanam & Mr. George Varghese ("Acquirers") has issued this Public Announcement ("PA") to the fully Paid Equity Shareholders of TCM Ltd ("Target Company") pursuant to Regulation 10, 11 and 12 and in compliance with other provisions of Chapter III of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ["SEBI(SAST) Regulations"].

The Offer

The Acquirer Group is making this offer for acquiring upto a maximum of 6,79,807 equity shares of Rs 10/- each of the company representing 20% of the issued and paid up equity share capital of the company at a price of Rs 5.14/- per Equity Share ("the Offer Price") plus interest of Rs 0.78/- per Equity share calculated at the rate of 15% per annum from the date 90 days after January 19, 2006 i.e. from April 19, 2006 till May 04, 2007 i.e. the scheduled date of the payment of consideration (The interest amount being subject to change depending upon the actual date of dispatch of consideration).

Schedule of Activities

Specified Date: March 09, 2007

Date of Opening of the Offer: April 05, 2007

Date of Closing of the Offer: April 25, 2007

Source : Equity Bulls

Keywords