CHARMS : OPEN OFFER FOR 26% WORTH RS 1.49 CR

• Acquirers to make mandatory open offer for up to 7,437,586 equity shares, 26% of emerging voting share capital, at ₹2 per share • Maximum aggregate consideration payable to public shareholders is ~₹1.49 Cr in cash • Offer triggered by share purchase agreement to buy 10,00,463 shares, 24.37% of existing capital, from promoters at ₹2/share for ~₹20.01 L • Proposed preferential issue of 24,500,000 equity shares and 125,500,000 convertible warrants at ₹2 each to acquirers and others • Acquirers would hold 73.41% of emerging voting capital after share purchase agreement and preferential equity issue, assuming full acceptance; public holding may fall below 25% • Target shares are suspended from trading due to procedural reason tied to capital reduction; face value cut to ₹1 from ₹10

Charms Industries Ltd

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