Ranbaxy Laboratories – Updates on Open Offer to the shareholders of Zenotech Laboratories
Rabo India Securities Pvt Ltd ("Manager to the Offer") for and on behalf of Ranbaxy Laboratories Ltd ("Acquirer") has issued this Corrigendum to the Public Announcement to the equity shareholders of Zenotech Laboratories Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the Public Announcement ("PA") dated October 05, 2007, pursuant to and in compliance with, amongst others, Regulations 10 & 12 of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").
Shareholders of the Target Company are requested to note the following:
a. In terms of Regulation 18(1) of the Regulations, the draft Letter of Offer has been submitted to the Securities and Exchange Board of India (SEBI) on October 19, 2007. The original schedule of activity as disclosed in the PA is delayed and a public announcement containing the revised schedule of activity for the Offer will be announced in due course.
b. Pursuant to the approval of the shareholders of the Target Company in the Annual General Meeting held on November 08, 2007, 54,89,536 Equity Shares at a price of Rs 160/- per share (including premium of Rs 150/- per share) for cash (being 16% of the equity share capital of the Target Company as increased by the abovementioned preferential issue) were allotted to Acquirer on November 23, 2007.
Terms used but not defined in this Corrigendum to the PA shall have the same meaning as assigned in the PA. All other terms and conditions of the PA remain unchanged.