Allsec Technologies Updates on Open Offer

Allsec Technologies Ltd has announced that Yes Bank Ltd ("Manager to the Offer") on behalf of First Carlyle Ventures Mauritius ("Acquirer") along with Carlyle Asia Growth Partners III, LP & CAGP III Co-Investment LP (Person Acting in Concert (PACs)) has issued this Public Announcement ("PA") to the shareholders of Allsec Technologies Ltd ("Target Company"), pursuant to and in compliance with the Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeovers), Regulation, 1997 and subsequent amendments thereto. The shareholders / beneficial owners of the Target Company are requested to note the following development with respect to and in connection with the Public Announcement dated August 29, 2006 ("PA") Corrigendum to the Public Announcement dated November 16, 2006 and the Post Offer Public Announcement dated January 12, 2007.

Manager to the Offer has been advised by Intime Spectrum Registry Ltd ("Registrar to the Offer" / "Intime") that an order dated December 21, 2006 was passed by the 4th Civil Judge (Senior Division) at Alipore restraining Intime from acting in furtherance of any new contract pertaining to the business of registrar to an issue and share transfer agent including registrar to the open offers which Intime has entered into after August 18, 2006.

Intime has completed the process of dispatch of purchase consideration to eligible shareholders, whose shares were accepted pursuant to the open offer, on December 21, 2006 and the Acquirer has appointed Mondkar Computers Pvt Ltd as the Registrar to the offer for the remaining period to carry out the pending activities relating to the open offer.

All other terms & conditions of the open offer remain unchanged.

Source : Equity Bulls

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