Intimation of constitution of committee of independent Directors for Open Offer
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Awaiting price reaction for this filing.
Lake Shore Realty Limited (formerly Mahaan Foods Limited) has formed a Committee of Independent Directors to evaluate an open offer for its shares. The committee, comprising Mrs. Manisha Goyal (Chairperson), Mr. Anchal Kumar Khaneja, and Mr. Dharmesh Bhutani, will provide reasoned recommendations to public shareholders. The open offer involves acquisition of up to 9,10,182 equity shares (26% of the company's share capital) by AL Maha Investment Fund PCC - ONYX Strategy along with Indigo Infracon Private Limited. This action is taken under SEBI's Takeover Regulations, 2011.
This indicates an open offer has been triggered for 26% of the company's shares, meaning existing public shareholders will have an opportunity to tender their shares at the offer price. Shareholders should await the committee's reasoned recommendations before making any decision to tender or hold their shares.