Arrow Webtex revises Open Offer to Rs 103 for shareholders of Advani Hotels & Resorts India

YES BANK Ltd ("Manager to the Offer") on behalf of Fasttrack Impex Pvt Ltd ("Acquirer") along with Arrow Webtex Ltd ("Person Acting in Concert"/"PAC") has issued Corrigendum to the Public Announcement ("PA") to the shareholders of Advani Hotels & Resorts India Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the Pubic Announcement ("PA") dated February 29, 2008 pursuant to and in compliance with among others, Regulation 10 of Chapter III of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("Takeover Regulations" or "Regulations").

Shareholders / beneficial owners of the Target Company may please note the following developments:

Revised offer Price:

In accordance with Regulations 26 of the Takeover Regulations, the Acquirer hereby revises the Offer price from Rs 102/- per share to Rs 103/- per Share.

The Terms not defined herein will have the same meaning as defined in PA. All other terms & conditions of the Offer remain unchanged.

Source : Equity Bulls

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