Tata Tea Revises Schedule of Open Offer to the shareholders of Mount Everest Mineral Water

DSP Merrill Lynch Ltd ("Manager to the Offer"), on behalf of Tata Tea Ltd ("Acquirer") has issued this Corrigendum to the Public Announcement ("PA") to the shareholders of Mount Everest Mineral Water Ltd ("Target Company"), which is in continuation of, and should be read in conjunction with, the Public Announcement ("PA") dated June 04, 2007, & Subsequent corrigendum dated June 08, 2007, July 26, 2007 and August 23, 2007, pursuant to Regulation 10 and Regulation 12 and in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the "SEBI (SAST) Regulations"). As Directed by Securities & Exchange Board of India (SEBI) vide its letter dated October 09, 2007 this corrigendum to the PA being issued. The shareholders of the Target Company are requested to note the following:

1. The Schedule of activities in relation to the offer has been revised as under:

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Activity			Original Schedule	Revised Schedule
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Specified Date			July 04, 2007		July 04, 2007
Date of Opening of the Offer	July 27, 2007		October 26, 2007
Date of Closing of the Offer	August 16, 2007		November 14, 2007
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2. The Acquirer and manager to the offer post discussion with the SEBI have deposited inter alia in a bank escrow account additional consideration of Rs 6.56 Crores which constitutes the non compete amount of Rs 9.64 per share which may be payable (together with interest on the additional consideration at 6% per annum from the date of the payment of initial consideration on the shares tendered and accepted until the date of such payment of the additional consideration) by the Acquirer based on final decision taken and the guiding principles laid down in the matters which are pending before the Securities Appellate Tribunal, proportionately to the eligible shareholders of the Target Company who have validly tendered their shares pursuant to the open offer.

Terms Used but not defined in this Corrigendum shall have the same meaning as assigned in the PA.

Source : Equity Bulls

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