Open Offer for Geojit Financial shareholders at Rs.27.50

Ambit Corporate Finance Pvt Ltd ("Manager to the Offer") on behalf on BNP Paribas SA ("Acquirer") has issued this Public Announcement ("PA") to the equity shareholders of Geojit Financial Services Ltd ("Target Company"), pursuant to and in compliance with the Regulations 10, 12 and other applicable provisions of the Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the "SEBI Takeover Code".)

The Offer:

The Offer is being made by the Acquirer to the equity shareholders of the Target Company, for the acquisition of 46,363,434 Shares from the existing shareholders of the Target Company (other than signing shareholders) representing 20% of the Post Preferential Issue Capital of the Target Company at a price of Rs 27.50 per share ("Offer Price"), payable in cash.

The Acquisition of Shares tendered pursuant to the offer is subject to the receipt of statutory approvals as set out in Paragraph 35 and 36 of the PA, and other terms and conditions as set out in the PA. Upon the completion of the Offer, assuming full acceptance, no Subscription Warrant would be converted and the Acquirer will hold 44.50% of the then outstanding voting and equity share capital. In the event there is no response to the Offer, upon closure of the same, all the Subscription Warrant would be converted and the Acquirer will hold 34.35% of the Post Preferential Issue Capital.

Schedule of Activities

Specified Date - March 30, 2007

Date of Opening of the Offer - May 09, 2007

Date of Closing of the Offer - May 28, 2007

Source : Equity Bulls

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