SMC Capitals Ltd ('Manager to the Open Offer') for and on behalf of Him Teknoforge Limited alongwith Globe Precision Industries Private Ltd., Mr. Vinod Aggarwal and Mrs. Asha Aggarwal (?Acquirers?) has infirmed this Detailed Public Statement ('DPS') to the Shareholders of Gujarat Automotive Gears Ltd (?Target Company?), pursuant and in compliance with Regulation 13(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (?SEBI (SAST) Regulations? or the ?Regulations?), pursuant to the Public Announcement (PA) filed with BSE Limited and with Securities and Exchange Board of India (?SEBI?) on June 24, 2013 and on June 25, 2013 respectively and sent to the Target Company on June 25, 2013, in terms of Regulation 3(1) and 4 of the SEBI (SAST) Regulations.
The Offer:
The Acquirers are making an Open Offer to acquire upto 91,000 fully paid up equity shares of Rs. 10/- each (?Offer Shares?), representing 26% of the equity share capital of the Target Company at a price of Rs. 1137/- (Rupees One Thousand One Hundred Thirty Seven only) per fully paid up equity share payable in cash, (?Offer Price?) in accordance with the provisions of the SEBI (SAST) Regulations and subject to the terms and conditions set out in this DPS and the Letter of Offer that will be circulated to the shareholders in accordance with the provisions of the SEBI (SAST) Regulations.
Tentative Schedule of the Activities pertaining to the Offer:
Identified date - July 30, 2013
Date of opening of the Offer - August 14, 2013
Date of closure of the Offer - August 28, 2013
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