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Lotte India Corporation
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NSE Announcements on Lotte India
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MMB MessengerTracked by: 0 Boarder
Lotte India Corporation Limited had informed the Exchange that the Reverse -Book Building for Delisting of equity shares of Lotte India Corporation Limited ("LICL"/"the Company"), in respect of which the Bid Period was from September 26, 2008 to October 01, 2008 (both days inclusive). The company has now informed the Exchange that the final price discovered through RBP is Rs. 825/- per equity share and the promoter has not accepted the discovered price. Further the Company has submitted a copy of the Public Announcement (PA), rejecting above price, has been published on October 06, 2008 in the Newspaper as per SEBI Delisting Guidelines 2003. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
BSE Announcements on Lotte India
Posted by : MMB MessengerTracked by: 0 Boarder
SBI Capital Markets Ltd (Manager to the Offer) on behalf of Lotte Confectionery Company Ltd (Acquirer) has informed BSE & to the equity shareholders of Lotte India Corporation Ltd ("Target Company") about the following:
This has reference to the Reverse Book-Building Process ("RBP") for Delisting of Equity shares of the Target Company, in respect of which the Bid Period was from September 26, 2008 to October 01, 2008 (both days inclusive).
In this regard, Manger to the offer have received a copy of letter dated October 03, 2008 from Acquirer, informing their decision to not to accept the price (i.e. Rs 825/- per equity share) discovered pursuant to RBP and accordingly to return the equity shares, which were tendered in the RBP and were credited to the Special Depository Account with IL&FS Investsmart Ltd, to the respective shareholders....
BSE Announcements on Lotte India
Posted by : MMB MessengerTracked by: 0 Boarder
SBI Capital Markets Ltd (Manager to the Offer) on behalf of Lotte Confectionery Company Ltd (Acquirer) has issued this Public Announcement to the equity shareholders of Lotte India Corporation Ltd ("Target Company" or "Company"), pursuant to the Securities and Exchange Board of India (Delisting of Securities) Guidelines, 2003, ("Delisting Guidelines"), in respect of the delisting of the fully paid-up equity shares of the Company. The paid up equity share capital of the Company is Rs 3,77,12,890 comprising of 37,71,289 shares of Rs 10 each. The promoter of the Company holds 30,31,647 shares as on date representing 80.39% of the paid up equity capital of the Company.
The promoter seeks to acquire 7,39,642 Shares representing 19.61% of the paid-up equity share capital of the Company from the public shareholders, if an when offered by the public shareholders, pursuant to the delisting offer under the Delisting Guidelines ("Delisting Offer") and proposes to apply for delisting of the shares from the stock exchanges where the Shares of the Company are listed viz. The National Stock Exchange of India Ltd (NSE) and Madras Stock Exchange Ltd (MSE). The Shares of the Company are also traded on Bombay Stock Exchange Ltd (BSE) under permitted category.
A Special Resolution has been passed by the shareholders of the Company at the Annual General Meeting of the Company held on July 22, 2008, approving the delisting of the Companys shares pursuant to the Delisting Guidelines.
The Acquirer proposes to acquire the shares of the Company by way of a reverse book-building process as provided in the Delisting Guidelines.
The Floor price has been calculated to be the average of the 26 weeks high and low of the closing price on BSE preceding the date of the PA, which is Rs 300 per Share ("Floor Price"), as per clause 8(2) of the Delisting Guidelines.
Shareholders holding Shares in dematerialised form only may tender their shares during the Bid Period.
Once the Acquirer accepts the Exit Price, the Acquirer will acquire, subject to terms and conditions of this PA, including but not limited to fulfillment of the conditions mentioned in the PA, all the shares tendered up to and equal to the Exit Price, for a cash consideration equal to the Exit Price for each such share tendered.
The Acquirer shall announce the Discovered Price, the Exit Price and its decision to reject or to accept the discovered Price and / or the Exit Price, in accordance with the timetable set out in PA.
Proposed Timetable for the Offer.
Public Announcement - September 15, 2008
Dispatch of Bid Letters/Bid Forms/Forms of Acceptance to Shareholders as on September 15, 2008 - September 16, 2008.
Bid opening Date (10.00 AM) - September 26, 2008.
Bid Closing Date (3.00 PM) - October 01, 2008
Announcement of Discovered Price/Exit Price and the Acquirers Acceptance/Non Acceptance of Discovered Price/Exit Price - October 06, 2008
Final Settlement Date with BSE Clearing House (for Shares in Dematerialised Form)# - October 07, 2008
Period for Shareholders holding Physical share Certificates to tender their shares - October 08, 2008 to October 22, 2008.
Final Settlement date (For Shares in physical form) - November 05, 2008
#Subject to the acceptance of the Discovered price or offer of an exit price, higher than the Discovered price by the Acquirer....
NSE Announcements on Lotte India
Posted by : MMB MessengerTracked by: 0 Boarder
Lotte India Corporation Limited has informed the Exchange with reference to the Reverse-Book Building Process ("RBP") for Delisting of equity shares of Lotte India Corporation Limited ("LICL" / "the Company"), in respect of which the Bid Period was from September 26, 2008 to October 01, 2008 (both days inclusive). In this regard, the company has received a copyof letter dated October 03, 2008 from Lotte Confectionery Company Limited ("LCCL" / "Acquirer" / "Promoter"), informing their decision to not to accept the price (i.e. Rs. 825/- per equity share) discovered pursuant to RBP and accordingly to return the equity shares, which were tendered in the RBP and were credited to the Special Depository Account with IL&FS Investsmart Limited, to the respective shareholders. A copy of the letter shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements)....
NSE Announcements on Lotte India
Posted by : MMB MessengerTracked by: 0 Boarder
Lotte India Corporation Limited has informed the Exchange regarding a public announcement ("PA") being issued by SBI Capital Markets Limited ("SBICAP"), on behalf of Lotte Confectionery Company Limited (hereinafter referred to as "LCCL" or the "Acquirer"/ the "Promoter") in respect of the delisting of the fully paid up equity shares ("Shares") of Lotte India Corporation Limited ("LICL" or the "Company") pursuant to the Securities and Exchange Board of India (Delisting of Securities) Guidelines, 2003 ("Delisting Guidelines"). The Promoter of the Company holds 30,31,647 Shares as on date representing 80.39% of the paid-up equity capital of the Company. The Promoter seeks to acquire 7,39,642 Shares representing 19.61% of the paid-up equity share capital of the Company from the public shareholders, if and when offered by the public shareholders, pursuant to the delisting offer under the Delisting Guidelines (the "Delisting Offer") and proposes to apply for delisting of the shares from the stock exchanges where the Shares of the Company are listed viz. the National Stock Exchange of India Limited ("NSE") and Madras Stock Exchange Limited ("MSE"). The Acquirer hereby makes this Delisting Offer to the public shareholders of LICL in accordance with the Delisting Guidelines. The public shareholders currently hold 7,39,642 Shares constituting 19.61% of the paid-up equity capital of the Company. Determination of the Floor Price: The floor price has been calculated to be the average of the 26 weeks high and low of the closing price on the BSE preceding the date of the PA, which is Rs.300 per share (the "Floor Price"), as per clause 8(2) of the Delisting Guidelines. The Bid Opening Date is September 26, 2008 and the Bid Closing Date is October 01, 2008. A copy of the Public Announcement - Delisting shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
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