Sah Petroleums - Open Offer
October 20, 2008
Kotak Mahindra Capital Company Ltd (Manager to the Offer) on behalf of NAF India Holdings Ltd (Acquirer) along with Navis Lube Holdings Pvt Ltd, Navis Asia Fund V LP, Navis Asia Fund V (2) LP, Navis Asia Fund V- E LP, Navis Asia Fund V GP LP & Navis Asia Fund V GP Ltd (Persons acting in concert or PACs) has issued this Public Announcement (PA) to the Shareholders of Sah Petroleums Ltd (Target Company), pursuant to and in compliance with, among others, regulation 10 & regulation 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 & Subsequent amendments thereto (Regulations).
The Offer:
The Acquirer proposes to acquire 88,00,000 (Eighty Eight Lacs only) Shares of the Target Company (Offer Size) representing 27.50% of the Current Share Capital (20% of the Diluted Share Capital) of the Target Company, at a price of Rs 48.50 (Rupees Forty Eight & Fifty Paise only) for each Share of the Target Company (Offer Price), to be paid in cash in accordance with the Regulations.
Schedule of Activities:
Specified Date - October 31, 2008
Date of Opening of the Offer - December 04, 2008
Date of Closing of the Offer - December 24, 2008