SEBI clears promoters' open offer for Spice Mobile Jun 03 2009 1353 hrs IST , Mumbai By PTI Capital market regulator SEBI has cleared promoter Spice Televentures' Rs 16-crore open offer for purchasing a 20 per cent additionalstake in Spice Mobiles. The open offer was announced on April 20 by B K Modi group firm Spice Televentures through its merchant banker Enam Securities, and SEBI received the issue for its consideration on the same day. According to SEBI, it issued its necessary observations on the open offer on May 26, thus clearing the way for the open offer. The open offer is scheduled to begin on June 11 and closes on June 30, under which Spice Televentures would acquire up to 1.49 crore shares representing a 20 per cent stake in Spice Mobiles at a price of Rs 10.90 a share. Earlier in April, Spice Televentures, which already held 20.18 per cent equity in Spice Mobiles, reached an agreement to increase its stake in the company to 63.23 per cent through purchase of shares from two other promoter group entities. The company had said Spice Televentures would acquire about 3.2 crore shares, amounting to a 43.05 per cent stake, from Spice Enfotainment and Twenty First Century Capitals Ltd. The three entities together form part of the promoter and promoter group of Spice Mobile Get easy photo sharing with Windows Live™ Photos. Drag n’ drop _________________________________________________________________ cricket and news. Logon to MSN Video for the latest clips http://www.exploremyway.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
