Please find attached the newspaper advertisements for recommendation of the Committee of Independent Directors in relation to the Open Offer
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
P.H. Capital Limited has disclosed the recommendation of its Committee of Independent Directors (IDC) regarding an Open Offer by Mr. Aditya Himmat Bhansali (Acquirer) to acquire up to 7,80,026 equity shares (26% of voting capital) at ₹206.66 per share in cash, pursuant to SEBI (SAST) Regulations, 2011. The IDC reviewed the Public Announcement, Detailed Public Statement, Draft Letter of Offer, and Letter of Offer, and unanimously concluded that the offer price is in accordance with SAST Regulations and is fair and reasonable. The IDC noted that the company's shares are frequently traded on BSE and that the offer price complies with Regulation 8(2) of the SAST Regulations. Public shareholders can choose to tender their shares or remain as shareholders.
The IDC's recommendation of 'fair and reasonable' for the open offer price of ₹206.66 per share provides confidence to public shareholders considering tendering their shares. The offer represents a potential exit opportunity at a regulated price for minority shareholders.