Western Ministil Ltd — Important, 01-01-1970: Company Update

Western Ministil Limited is subject to an open offer by Mr. Kalpesh Patel and Mrs. Vandana Patel to acquire up to 33.80 lakh equity shares, representing 26.00% of the expanded capital, at Rs. 10.00 per share. The Independent Directors' Committee holds the opinion that this offer price is justified. No competitive bids have emerged. The acquirers have deposited Rs. 3.40 crore in an escrow account and joined the company's Board on February 9. WML has received BSE approval and allotted shares to the acquirers and public category investors. The offer opens on February 23 and closes on March 12.