Open Offer for Aryaman Financial at Rs.10

Khandwala Securities Ltd ("Manager to the Offer"), on behalf of M/s Mahshri Enterprises Pvt Ltd (Acquirer) has issued this Public Announcement to the equity shareholders of Aryaman Financial Services Ltd ("Target Company"), pursuant to provisions of Regulations 10, 11(1) and 12 and in compliance with the Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 1997 (hereinafter referred to as "Regulations") and subsequent amendments thereto.

The Offer

The Acquirer is now making an offer under Regulation 10 & 12 of the SEBI (SAST) Regulations, 1997 to the equity shareholders of the Target Company to acquire upto 925,934 fully paid equity shares of Rs 10/- each, representing an aggregate 20% of the fully paid up equity capital and voting rights of the Target Company at a price of Rs 10 per equity share ("Offer Price") payable in cash and subject to the terms & conditions mentioned in PA ("Offer" or "Public Offer" or "Open Offer").

As mentioned in aforesaid clause, the acquirer has agreed to purchase shares representing 20% of the paid up capital of the Company. In the event, pursuant to this Offer, the Public Shareholding in the Target Company falls below 25% of its outstanding equity share capital, the acquirer will in accordance with Regulation 21(2) of the SEBI (SAST) Regulations, 1997, facilitate the Target Company to raise the level of Public Shareholding to the level specified for continuous listing in the Listing Agreement with the time specified.

Schedule of Activities

Specified Date: September 11, 2007

Date of Opening of the Offer: October 06, 2007

Date of Closing of the Offer: October 25, 2007

Source : Equity Bulls

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