BJ Duplex Boards Ltd Open Offer Fair and Reasonable, Say Independent Directors

Navigant Corporate Advisors Limited, the Manager to the Offer, has submitted a copy of the Recommendations of the Committee of Independent Directors (IDC) on the Open Offer to the Shareholders of B J Duplex Boards Limited. The IDC believes that the Open Offer is fair and reasonable. The Offer price of Re. 1.00/- per fully paid -up equity share is considered reasonable based on the negative book value and negative profitability of the Company. The offer price is also equal to the price paid by Acquirers for the preferential allotment. The IDC recommends acceptance of the Open offer made by the Acquirers.