With reference to the earlier announcement regarding Open offer & Updates on Open offer to the shareholders of Syschem India Ltd ("Target Company"), D & A Financial Services (P) Ltd ("Manager to the Open Offer ") has now informed to BSE about the following: This is in continuation of earlier letter dated May 10, 2011, In the Public Announcement ("PA") published on April 25, 2011 in respect of Open Offer, the number of shares offered shown as 24620800 and in the draft letter of offer as filed with SEBI and stock exchange, the no. of shares offered is shown as 29360800. The difference in no. of shares are due to increase in offer size due to allotment of 2,37,00,000 shares in the target company on April 29, 2011 pursuant to conversion of warrants In to equity shares. Further in view of the above, Para 1.3 of original PA should be read as under. "The Acquirers alongwith PACs Intend to make an Open Offer in terms of the SEBI (SAST) Regulations, 1997 to the shareholders of Target Company to acquire 2,93,60,800 equity shares of face value of Rs. 1/- each representing 20% of the total paid up capital / voting share capital of the Target Company at a price of Rs 1.50 (One Rupee and Fifty paisa Only) per fully paid up equity share ("Offer Price") payable in cash subject to the terms and conditions mentioned hereinafter, whose names appear on the register of members on Specified Date i.e. May 20, 2011." Further, the number of shares offered where ever it appeared in the Original Public Announcement should be read as 2,93,60,800 equity shares instead of 2,46,20,800 equity. Also due to typographical error in our earlier letter dated May 10, 2011 addressed to the Exchange , the number of shares allotted by the target company on April 29, 2011 has been shown as 7100000 instead of 23700000.
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