Open Offer for Telephoto Entertainments at Rs.31.50

JM Morgan Stanley Pvt Ltd ("Manager to the Offer") on behalf of PVP Enterprises Pvt Ltd ("Acquirer") & PVP Ventures Pvt Ltd, Platex Ltd and Prasad V Potluri being person acting in concert with Acquirer ("PACs"), has issued this Public Announcement ("PA") to the shareholders of Telephoto Entertainments Ltd ("Target Company"), pursuant to Regulations 10 and 12 of, and in compliance with, the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto the "SEBI (SAST) Regulations".

The Offer:

The Acquirer is making an offer along with PAC to the public Shareholders of Target Company to acquire upto 15,27,323 equity shares being 20% of the Emerging Voting Capital of the Target Company ("Offer Share(s)"). This Offer is being made pursuant to Regulations 10 and 12 of the SEBI (SAST) Regulations, consequent upon the acquisition of the Purchase Shares by the Acquirer, which could also be regarded as an indirect acquisition of shares and of control of the Target Company. This Offer is being made at a price of Rs 31.50 per fully paid up equity share ("Offer Price), payable in cash in accordance with the SEBI (SAST) Regulations and subject to the terms and conditions ("Offer" or "Open Offer").

Schedules of Activities

Specified Date: March 09, 2007.

Date of Opening of the Offer: April 20, 2007.

Date of Closing of the Offer: May 09, 2007.

Source : Equity Bulls

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