Open Offer for Sanra Software Ltd at Rs.15

Vivro Financial Services Pvt Ltd ("Manager to the Offer") on behalf on Eyelight Events and Promotions India Pvt Ltd ("Acquirer"), has issued this Public Announcement ("PA") to the shareholders of Sanra Software Ltd ("Target Company"), in compliance with Regulations 10 and 12 as required under the Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 ("SEBI(SAST) Regulations, 1997") and subsequent amendments thereto.

The Offer

The Acquirer intends to make an Open Offer in terms of the "SEBI(SAST) Regulations, 1997" to the shareholders of the Target Company (other than the parties to the SPA) to acquire from them 12,10,000 fully paid up equity shares of Rs 10/- each, representing 20% of the equity share and voting rights in the Target Company at a price of Rs 15/- per share ("Offer Price") payable in cash subject to the terms & conditions mentioned in PA.

Schedule of Activities

Specified Date - March 30, 2007

Date of Opening of Offer - May 08, 2007

Date of Closing of Offer - May 28, 2007

Source : Equity Bulls

Keywords