Acquirer of Dhandapani Finance shares to pay penal interest awaiting RBI approval

Keynote Corporate Services Ltd ("Manager to the Offer"), on behalf of D. B. Zwirn Mauritius ("Acquirer") has issued this Corrigendum to the Public Announcement ("PA") to the equity shareholders of Dhandapani Finance Ltd ("Target Company") who have responded to Open Offer.

As per the activity schedule the last date for dispatch of consideration and intimation of rejections is September 16, 2006. The said offer is subject to the Acquirer obtaining permission from Reserve Bank of India for acquisition of shares. The Acquirer has already made application to RBI and is awaiting the said approval. Pending RBI approval, the Acquirer has agreed to pay interest @ 10% p.a. on the consideration amount for the delayed period. The consideration will be dispatched along with the interest for the delayed period as soon as the requisite RBI permission is received. Due to above, there may be delay of around 30 days in completing the process. In the meantime intimation of rejection cases has been dispatched by the Registrar to the offer.

Source : Equity Bulls

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