Open Offer for Multiplus Holdings shareholders at Rs.11.50

Ashika Capital Ltd ("Manager to the Offer") for and on behalf of Mr Jignesh Ramniklal Sheth and Mrs Krishna Jignesh Sheth ("Acquirers"), has issued this Public Announcement ("PA") to the shareholders of Multiplus Holdings Ltd ("Target Company"), pursuant to regulations 10 and 12 of, and in compliance with, the Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").

The Offer

The Acquirers are now making this Open Offer ("Offer") to the shareholders of Target Company (other than the parties to the Agreement) to acquire upto 42,000 Equity Shares of Rs 10/- each at a price of Rs 11.50 per share ("Offer Price") representing 20% of its voting capital, payable in cash.

Schedule of Activities

Specified Date - March 17, 2007

Offer Opening Date - April 27, 2007

Offer Closing Date - May 16, 2007

Source : Equity Bulls

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