Open Offer for Soma Textiles shares at Rs.32

Chartered Capital & Investment Ltd ("Manager to the Offer") on behalf of Krishnaa Glass Pvt Ltd ("Acquirer") along with Mr. Arvind Somany, Mr. Surendra Kumar Somany, Mrs. Prasann Somany, Mrs. Nandita Patodia, Mrs. Anupama Agarwal, Mrs. Nalini Somany, Ms. Nitya Somany, M/s. Simplex Trading & Agencies Ltd, M/s. Sarvopari Investment Pvt Ltd ("Persons Acting in Concert" / "PAC's") has issued this Public Announcement ("PA"), to the equity shareholders of Soma Textiles & Industries Ltd ("Target Company"), pursuant to and in compliance with Regulation 11(1) as required under the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 ("SEBI(SAST) Regulations, 1997") and subsequent amendments thereto.

The Offer:

The Acquirer is making an Open Offer along with PAC's to the equity shareholders of Target Company, to acquire 66,06,600 equity shares of Rs 10/- each representing 20% of the total paid up capital / voting share capital of the Target Company at a price of Rs 32.00 per fully paid up equity share ("Offer Price") payable in cash subject to the terms and conditions mentioned in PA.

Schedule of Activities:

Specified Date: March 16, 2007

Date of Opening of the Offer: April 13, 2007

Date of Closing of the Offer: May 02, 2007

Source : Equity Bulls

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