Open Offer for California Software at Rs.100

Religare Securities Ltd ("Manager to the Offer") on behalf of Kemoil Ltd ("Acquirer") has issued this Public Announcement (PA) to the shareholders of California Software Company Ltd ("Target Company"), pursuant to and in compliance with, Regulation 11(1) & Regulation 12 of Chapter III of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("SEBI Takeover Code" or "Regulations" or "SEBI (SAST) Regulations").

The Offer

The Acquirer is making an offer to the public shareholders of the Target Company to acquire 24,73,002 fully paid up equity shares of the face value of Rs 10/- each, representing in aggregate 20% of the fully paid up equity share capital of the Target Company at a price of Rs 100/- per equity share ("Offer Price"), payable in cash in terms of the Regulations 20 and 21 of the Regulations (the "Offer" or "Open Offer"). The Offer is in accordance with Regulations 11(1) and 12 of the Regulations, consequent to the Acquisition of the shares and control by the Acquirer as mentioned in Clause 1 and subject to the terms and conditions mentioned in PA, which will also be a part of the Letter of Offer to be circulated to the shareholders of the Target Company.

In light of the transactions as mentioned in Clause 1(d) (as mentioned in PA) the Acquirer would be in a position to control and manage the affairs of the target Company.

Chemoil Energy Ltd is the Person Acting in Concert (PAC) (though not participating in the offer) for the purpose of the open offer, along with the Acquirer.

Schedule of Activities

Specified Date - September 07, 2007

Date of Opening of the Offer - October 12, 2007

Date of Closing of the Offer - October 31, 2007

Source : Equity Bulls

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