Dhanshree Properties Pvt Ltd has informed BSE that Natural Power Ventures Pvt. Ltd ("NPVPL" or the "Acquirer") along with Persons Acting in Concert viz, Bharati Shipyard Ltd (‘BSL’) and Dhanshree Properties Pvt Ltd (‘DPPL’) have issued a public announcement ("PA") dated June 02, 2009 and published on June 03, 2009, to the shareholders of Great Offshore Ltd ("GOL"/"Target Company"), in compliance with Regulation 10 and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the ‘SEBI (SAST) Regulations’), to acquire on a voluntary basis up to 78,26,788 fully paid-up equity shares of face value Rs 10 each of GOL forming 20% of the Emerging Voting Capital of the Target Company (as defined in PA) at a price of Rs 344.00 (Rupees Three hundred and forty-four only) for each fully paid-up equity share (‘Offer Price") to be paid in cash in accordance with the SEBI (SAST) Regulations, and subject to the terms and conditions mentioned in the PA and as would be set out in the Letter of Offer in relation to the Offer aggregating to Rs 269,24,15,072 (Rupees Two hundred and sixty-nine crores twenty-four lacs fifteen thousand seventy-two only) ("Offer").
On June 23, 2009, DPPL has acquired 16,99,611 equity shares of Rs 10 each of GOL, constituting 4.58% of the current paid-up share capital of GOL, at a price of Rs 403.00 per equity share through a block deal, ("Acquisition").
The Acquisition was made pursuant to the provisions of Regulation 20(7) of the SEBI (SAST) Regulations. In compliance with Regulation 22(17) of the SEBI (SAST) Regulations, this letter is for the purposes of disclosure of the acquisition to the stock exchanges.
Source: Bseindia.com