DSP Merrill Lynch Limited (Manager to the Offer) for & on behalf of Novartis AG (Acquirer) has issued this Post Offer Public Announcement to the equity shareholders of Novartis India Limited (Target Company), which is in continuation of and should be read in conjunction with the Letter of Offer dated May 14, 2009 (Letter of Offer) and the Supplemental Public Announcement (PA) dated May 27, 2009, pursuant to Regulation 11(1) of, and in compliance with, the Securities and Exchange Board of India (SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (Regulations).
The details required to be notified under the Regulations following completion of the Offer are as under:
Details of the acquisition: Sr. No. Item Proposed in the Offer Document Actual 1. Offer Price Rs. 351 Rs. 450* 2.
Shareholding of Acquirer (No & %) before the Public Announcement ("PA") 16,277,437 (50.93%) 16,277,437 (50.93%) 3.
Equity Shares acquired by way of MOU or market purchases (No. & %) Nil Nil 4. Equity Shares acquired in the Offer (No & %) 12,464,710 (38.99%) 8,147,365 (25.49%) 5.
Size of the Offer (No of equity shares multiplied by Offer Price per equity hare) Rs. 4,375,113,210 (12,464,710 x Rs. 351) Rs. 3,666,314,250, (8,147,365 x Rs. 450) 6.
Equity Shares acquired after PA but before 7 working days prior to closure date, if any (No & %) NA Nil 7. Post offer Shareholding of Acquirer/ PACs (No & %) (2+3+4+6) 28,742,147 (89.93%) 24,424,802 (76.42%) 8.
Pre & Post Offer shareholding of Public (No & %) Pre: 15,683,360 (49.07%) Post: 3,218,650 (10.07%) Pre: 15,683,360 (49.07%) Post: 7,535,995 (23.58%) * Offer Price revised from Rs. 351 per equity share to Rs. 450 per equity share on May 27, 2009.
The details required to be notified under the Regulations following completion of the Offer are as under:
Details of the acquisition: Sr. No. Item Proposed in the Offer Document Actual 1. Offer Price Rs. 351 Rs. 450* 2.
Shareholding of Acquirer (No & %) before the Public Announcement ("PA") 16,277,437 (50.93%) 16,277,437 (50.93%) 3.
Equity Shares acquired by way of MOU or market purchases (No. & %) Nil Nil 4. Equity Shares acquired in the Offer (No & %) 12,464,710 (38.99%) 8,147,365 (25.49%) 5.
Size of the Offer (No of equity shares multiplied by Offer Price per equity hare) Rs. 4,375,113,210 (12,464,710 x Rs. 351) Rs. 3,666,314,250, (8,147,365 x Rs. 450) 6.
Equity Shares acquired after PA but before 7 working days prior to closure date, if any (No & %) NA Nil 7. Post offer Shareholding of Acquirer/ PACs (No & %) (2+3+4+6) 28,742,147 (89.93%) 24,424,802 (76.42%) 8.
Pre & Post Offer shareholding of Public (No & %) Pre: 15,683,360 (49.07%) Post: 3,218,650 (10.07%) Pre: 15,683,360 (49.07%) Post: 7,535,995 (23.58%) * Offer Price revised from Rs. 351 per equity share to Rs. 450 per equity share on May 27, 2009.
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