Oracle announces open offer for i-flex Solutions

DSP Merrill Lynch Ltd (Manager to the Offer), on behalf of Oracle Global (Mauritius) Ltd. (Acquirer) along with Oracle Corporation (being a Person Acting in Concert ("PAC")) has issued this Public Announcement ("PA") to the Shareholders of i-flex Solutions Ltd (Target Company), pursuant to and in compliance with Regulations 11(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the "SEBI (SAST) Regulations").

The Offer:

The Acquirer along with PAC is making an offer to acquire up to 16,629,023 fully paid-up equity shares of face value Rs 5 each of the Target Company forming 20.0% of the Emerging Voting Capital of the Target Company. The Offer is being made at a price of Rs 1475.00 for each fully paid equity share ("Offer Price") to be paid in cash in accordance with the SEBI (SAST) Regulations and subject to the terms and conditions and as will be set out in the Letter of Offer in relation to the Offer.

Schedules of Activities :

Specified Date : October 06, 2006

Date of Opening of the Offer : November 06, 2006

Date of Closing of the Offer : November 25, 2006

Source : Equity Bulls

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