Soma Papers & Industries Ltd — Important, 01-01-1970: Company Update

Acquirers Mr. Shankar Varadharajan and Mr. Anancha Perumal Selvi Keshav, along with Persons Acting in Concert, have made an open offer to acquire up to 4.27 crore equity shares of Soma Papers and Industries Limited. This offer represents 26% of the company's expanded capital at an offer price of Rs. 10 per share, valuing the acquisition at approximately Rs. 42.66 crore. The Committee of Independent Directors believes the offer price is justified and aligns with acquisition regulations. There have been no competing bids. The Letter of Offer has been dispatched to shareholders, outlining the procedure for participation.