United Breweries Holdings extends Deccan Aviation Open Offer Dates, size revised

Edelweiss Capital Ltd ("Manager to the Offer") on behalf of Kingfisher Radio Ltd (Acquirer) along with United Breweries (Holdings) Ltd & UB Overseas Ltd (Persons Acting in Concerts ("PACs") has issued this Corrigendum to the Public Announcement to the Shareholders of Deccan Aviation Ltd ("Target Company") which is in continuation of, and should be read in conjunction with, the Public Announcement ("PA") dated June 06, 2007 & the Corrigendum to the PA published on June 20, 2007 and July 26, 2007 and the Letter of Offer dated September 03, 2007, for the acquisition of 27,126,360 fully paid up equity shares of the face value of Rs 10 each representing 20% of the equity share capital of the Target Company, pursuant to Regulations 10 & 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("SEBI(SAST)Regulations").

Terms used but not defined in this Corrigendum shall have the same meaning as assigned in the PA and the Letter of Offer.

Shareholder of the Target Company are requested to note the following.

1. The Schedule of activities in relations to the Offer has been revised and incorporated in the Letter of Offer. The Original schedule and the revised schedule are as follows.

------------------------------------------------------------------------------------------
Activity			Original Schedule	Revised Schedule
------------------------------------------------------------------------------------------
Specified Date			June 07, 2007		June 07, 2007
Date of Opening of the Offer	July 25, 2007		September 12, 2007
Date of Closing of the Offer	August 13, 2007		October 01, 2007
------------------------------------------------------------------------------------------

2. The size of the Offer has been revised in light of certain changes in the paid-up equity share capital of Target Company. 161,680 shares of the Target Company were issued and allotted pursuant to the exercise of outstanding Employees Stock Options Plans ("ESOPs") on August 20, 2007 & August 27, 2007. This resulted in the paid-up equity share capital of the Target Company increasing from 135,470,118 shares of Rs 10/- each to 135,631,798 shares of Rs 10/- each. Consequently, in compliance with Regulation 21(5) of the SEBI (SAST) Regulations, the Acquirer and the PACs have revised the size of the Open Offer to 20% of the increased share capital, i.e. to acquire up to 27,126,360 fully paid equity shares of Rs 10/- each. No further change is expected to occur in the paid up equity share capital of the Target Company till the expiry of 15 days from the date of closure of the Offer. The Acquirer and PAC's have undertaken to ensure compliance with Regulation 21(5) of the SEBI (SAST) Regulations.

Source : Equity Bulls

Keywords