RSWM announces Open Offer to the shareholders of Cheslind Textiles at Rs.25

ICICI Securities Ltd ("Manager to the Offer") on behalf of RSWM Ltd ("Acquirer") has issued this Public Announcement to the shareholders of Cheslind Textiles Ltd ("Target Company"), pursuant to Regulation 10 and Regulation 12, and as required under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ["SEBI (SAST)"] Regulations, 1997.

The Offer

The Acquirer is making a mandatory Open Offer to acquire upto 4,618,787 fully paid up equity shares ("Shares") of the face value of Rs 10/- each, representing in the aggregate 20% of the paid up equity share Capital of the Target Company at a price of Rs 25/- per share ("Offer Price") payable in cash subject to the terms & conditions mentioned in ("Offer", "Public Offer" or "Open Offer").

Schedule of Activities

Specified Date: April 20, 2007

Date of Opening of the Offer: May 14, 2007

Date of Closing of the Offer: June 02, 2007

Source : Equity Bulls

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