Century 21 Officespace to Acquire 26% Stake in Sayaji Hotels (Indore) for Rs. 99 Crore

Century 21 Officespace Private Limited along with persons acting in concert (PAC) have announced an Open Offer for acquisition of up to 7,92,118 fully paid-up Equity Shares of Rs. 10/- each from the shareholders of Sayaji Hotels (Indore) Limited, representing 26% of its Total Share Capital, at a price of Rs. 1,250/- per Equity Share. The Offer is made pursuant to proposed market purchase of equity shares of the Target Company and in compliance with Regulation 3(1) & 4 read with Regulation 13(2)(a) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The total consideration of the Offer is Rs. 99,01,47,500 (Rupees ninety nine crore one lakh forty seven thousand five hundred only) payable in ‘cash’.