Mphasis Updates on Open Offer for share acquisition

Citigroup Global Markets India Pvt Ltd ("Manager to the Offer"), on behalf of TH Holdings ("Acquirer") along with Electronic Data Systems Corporation (Person Acting in Concert ("PAC")) has issued this addendum to the Public Announcement ("PA") to the shareholders of Mphasis Ltd (Target Company), which is in continuation of and should be read in conjunction with the Public Announcement dated October 19, 2006 & Addendum to the Public Announcement dated January 26, 2007, pursuant to Regulation 11(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto, the shareholders of the Target Company are hereby advised to note that the information appearing in the PA has been amended (to the extent required) as below.

The Offer

This Offer is being made to acquire 33,134,768 fully paid up equity shares ("Offer Size") of face value Rs 10/- each of the Target Company ("Share"), which represent 20.00% of the total voting equity share capital of the Target Company ("Share Capital") as on March 04, 2007, which is the date that is fifteen days from the closure of the Offer (the Offer Size as a percentage of the Share Capital assumes that all exercisable stock options issued by the Target Company will be exercised). The Offer is being made at a price of Rs 204.50 for each Share ("Offer Price"), to be paid in cash in accordance with the SEBI (SAST) Regulations, and is subject to the terms and conditions that are set out in the letter of offer in relation to the Offer ("Letter of Offer").

Schedule of activities:

Specified Date: October 20, 2006

Date of opening of the Offer: January 29, 2007

Date of Closure of the Offer: February 17, 2007

Source : Equity Bulls

Keywords