NOTICES UNDER TAKEOVER CODE
IFB Industries Ltd: In terms of regulation 7 (3) of Sebi (Substantial Acquisition of Shares and Takeovers) Regulations 1997 the company has informed that Hitesh Ramji Javeri has informed vide his letter dt.01.10.02 received by company on 05.10.02 that his shareholding as on 30.09.02 is 1531331 (11.367%) shares of the company. However, by considering the paid up equity share capital of the company of Rs.127084470/- the shareholding of Hitesh Ramji Javeri works out to 12.05%. Although the shares (acquired so far) represent 12.05% of the paid up equity capital, it is to be noted that the Company Law Board, Principal Bench, New Delhi, vide its Order No.CP NO.3/111/02-CLB & CA No.62/02-CLB dated 28.08.02 has restrained the acquirere to exercise the Voting Rights in respect of the shares acquired after 27.06.2002.
Ahmednagar Forgings Ltd has informed BSE that Amtek Auto Ltd has purchased 11,83,790 fully paid up equity shares representing 14.80% of the voting rights of the Company i.e. Ahmednagar Forgings Ltd (AFL) on spot delivery basis from the existing promoters, their friends, relatives and associates at a price of Rs. 34.50 per share payable in cash, on 10th October, 2002. Further the company has informed that Amtek Auto has entered into a memorandum of understanding on October 10, 2002, with the promoters of Ahmednagar Forgings Ltd to acquire 24,57,660 equity shares representing 30.72% of the voting rights of Ahmednagar Forgings Ltd at a price of Rs 34.50 per share payable in cash. As required by Regulation 10 & 12 of the Sebi (Substantial Acquisition of Shares and Takeovers) Regulations 1997, they will be making a public announcement to acquire up to 20% of the voting capital to the existing shareholders of Ahmednagar Forgings Ltd within the specific period.
