FCI OEN Updates on Delisting Offer

JM Financial Consultants Pvt Ltd ("Manager to the Offer"), on behalf of FCI SA ("Acquirer") and FCI France (Persons Acting in Concert ("PAC") for the purpose of this Delisting Offer), has issued this Public Announcement to the shareholders of FCI OEN Connectors Ltd ("Target Company") which is in continuation of and should be read in conjunction with the original Public Announcement dated June 20, 2007.

The Acquirer along with PAC are pleased to announce the results of the Delisting Offer made through Reverse Book Building process using electronic facility of Bombay Stock Exchange Ltd ("BSE"), in respect of the proposed acquisition and consequent delisting of Equity Shares of Target Company, pursuant to an in compliance with the Securities and Exchange Board of India (Delisting of Securities) Guidelines ("Delisting Guidelines").

With reference to the Public Announcement ("PA") published on June 20, 2007 with floor price of Rs 391.38 per equity share and minimum offer price of Rs 537 per equity share for the Delisting Offer.

The Acquirer is pleased to announce that it has accepted an Exit Price of Rs 700 per Equity Share established by the Reverse Book Building process which opened on July 09, 2007 and closed on July 13, 2007 for Public Shareholders holding shares in the dematerialized form, in accordance with the Delisting Guidelines (being the price at which the largest number of equity shares were tendered).

After acquisition under the Delisting Offer is completed an application will be made to Bombay Stock Exchange Ltd ("BSE"), National Stock Exchange of India Ltd ("NSE") and Cochin Stock Exchange Ltd ("CSE") to delist the Equity Shares of the Target Company from BSE, NSE & CSE.

The Acquirer has undertaken to accept the Equity Shares at the Exit Price to be tendered by the Public Shareholders holding shares in physical form in the Delisting Offer which will be open on July 18, 2007 and close on August 01, 2007. Further, in order to provide exit to the Public Shareholders holding shares in demat form who either did not participate in the Bidding Process or whose bids were rejected in the Bidding Process ("Remaining Demat Shareholder"), Acquirer has offered to acquire equity shares from them at the Exit Price. Accordingly, Acquirer has undertaken to accept Equity Shares from Remaining Demat Shareholder prior to or on August 01, 2007. Further, Acquirer shall also accept shares from the remaining shareholders, who have either not tendered their shares to the Acquirer or were unable to do so by August 01, 2007, who may offer their equity shares to the Acquirer at the Exit Price for a period of 6 months following date of the delisting.

Source : Equity Bulls

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