Fortis Financial to acquire over 24 lakh equity shares of Asian CE

New Delhi, Aug 21 (UNI) Fortis Financial Services today said it will acquire 24,76,400 equity shares of Rs five each fully paid-up, of Asian CERC Information Technology Ltd.

The shares, representing 20 per cent of the paid-up equity share capital/ voting right of Asian CERC will be payable in cash at a price of Rs 53.45 per fully paid-up equity share, subject to the terms and conditions.

Systematix Corporate Services Ltd on behalf of Fortis Financial Services has issued this public announcement, pursuant to Regulation 10 read with Regulation 12 and in compliance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto, a company statement said.

The specified date for the offer is September 15, 2006.

The offer will open on October 12 amnd close on November 1, 2006.

Fortis Financial had earlier in the week said it would buy a 28 per cent stake in Asian CERC.

UNI PV RA PC2045