GI Engineering : Disclosure under SEBI Takeover Regulations

1.

Name of the Target Company (TC)

GI Engineering Solutions Limited

2.

Name of the Acquirer(s)

Saroja Siraj Malik

3.

Whether

the

acquirer(s)

is/are

Acquirer is Promoter of TC

promoters of the TC prior to the

transaction. If not, nature of relationship

or association with TC or its promoters

4.

Details of the proposed acquisition

A

Name of the person(s) from whom

Kilam Holdings Ltd

shares are to be acquired

B

Proposed date of acquisition

On or after 31st January, 2022

C

Number of Shares to be acquired

Acquirer - Saroja Siraj Malik

from each person mentioned in

Seller

No. Of Shares

4(a) above

Kilam Holdings Ltd

13,78,405

D

Total Shares to be acquired as % of

16.01%

Share capital of TC

E

Price at Which Shares are proposed

Rs. 5.08/- per share

to be acquired

F

Rationale, if any, for the proposed

Inter-Se transfer between Promoters

transfer

5.

Relevant sub-clause of regulation

10(1)(a)(ii) Persons named as promoters in the

10(1)(a) under which the acquirer is

shareholding pattern filed by the target company in

exempted from making open offer

terms of the listing agreement or these regulations for

not less than three years prior to the proposed

acquisition.

6.

If, frequently traded, volume weighted

Not applicable

average market price for a period of 60

trading days preceding the date of

issuance of this notice as traded on the

Stock exchange where the maximum

volume of trading in the shares of the TC

are recorded during such period.

7.

If in-frequently traded, the price as

Rs. 5.08/- per share

determined in terms of clause (e) of sub-

regulation (2) of regulation 8.

8.

Declaration by the acquirer, that the

I, Saroja Siraj Malik, Promoter & proposed Acquirer

acquisition price would not be higher by

of the Target Company declare that the acquisition

more than 25% of the price computed in

price would not be higher by more than 25% of the

point 6 or point 7 as applicable.

Price computed in point 6 or point 7 as applicable.

9.

Declaration by the acquirer, that the

I, Saroja Siraj Malik, Promoter of the Target Company

transferor and transferee have complied

declare that the transferor and transferee have

/ will comply with applicable disclosure

complied/ will comply

with applicable disclosure