Yes Bank announces open offer for Allsec Technologies on behalf of Carlyle group

Yes Bank Ltd ("Manager to the Offer") on behalf of First Carlyle Ventures Mauritius ("Acquirer") along with Carlyle Asia Growth Partners III LP & CAGP III Co-Investment LP (Person Acting in Concert (PACs)) has issued this Public Announcement ("PA") to the shareholders of Allsec Technologies Ltd ("Target Company"), pursuant to and in compliance with among others, Regulation 10 & 12 of Chapter III of the Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeovers), Regulation, 1997 and subsequent amendments thereto ("Takeover Regulation" or "Regulation"). The details are as under:

The Offer

The Acquirer along with the PACs, is making an Open Offer to acquire upto 30,45,106 equity shares of Rs 10/- each, representing 20% of the voting rights in the Target Company, computed in accordance with Regulation 21(5) of the Takeover Regulations, from the remaining equity shareholders of the Target Company, at a price of Rs 260/- per share ("Offer Price") payable in cash and subject to the term and conditions.

Schedule of Activates:

Specified Date: August 30, 2006

Date of Opening of the Offer: October 23, 2006

Date of Closing of the Offer: November 11, 2006

Source : Equity Bulls

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