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     Disclosure regarding Open Offer

    Apr 17, 2016 09:22 AM

    In continuation of the disclosure made on 6th March 2016 under Article 291 of the Executive Regulations of CMA, the Company would like to disclose that last week the Company filed an Appeal with Securities Appellate Tribunal (SAT) in India and also sought a Stay on the order dated 2nd March 2016 issued by Securities Exchange Board of India (SEBI) ordering the Company to make an Open Offer to the public shareholders of Parsoli Corporation Limited till its Appeal is heard. After hearing the arguments put forward by the Company’s advocates, on Friday 15th April 2016 the SAT has granted an interim Stay on the operation of the SEBI order dated 2nd March 2016. The company will update its shareholders and investors about further developments in due course.