Open Offer for Avon Organics at Rs 20

Ashika Capital Ltd ("Manager to the Offer") for and on behalf of Arch Pharmalabs Ltd ("Acquirer") has issued this Public Announcement ("PA"), to the shareholders of Avon Organics Ltd ("Target Company"), pursuant to and in compliance with, among others, Regulation 10 & 12 and other provisions of chapter III of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").

The Offer

The Acquirer is making this Open Offer ("Offer") to the shareholders of Target Company & propose to acquire upto 45,00,000 equity shares of Rs 10/- each, representing 20% of the fully expanded voting capital of the Target Company (including the proposed allotment of shares under the preferential issue), at a price of Rs 20/- per share ("Offer Price") payable in cash in terms of regulation 20 of the Regulations.

Schedule of Activities:

Specified Date - November 23, 2007

Date of Opening of the Offer - December 26, 2007

Date of Closing of the Offer - January 14, 2008

Source : Equity Bulls

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