Shree Pacetronix Limited 's Independent Directors Committee (IDC) has unanimously recommended the open offer made by Akash Sethi and three persons acting in concert. The offer aims to acquire up to 9,75,000 equity shares, representing 26% of the company's expanded share capital, at ₹100.00 per equity share.

Key Details of the Open Offer

IDC Recommendation and Rationale

The IDC, comprising three independent directors, convened to evaluate the open offer. After careful consideration, the committee concluded that the offer price of ₹100.00 per equity share is fair and reasonable under SEBI regulations.

Key points from the IDC's recommendation include:

1. The offer price aligns with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2. No complaints have been received from public shareholders regarding the open offer process, valuation price, or valuation method.
3. The acquirers, being existing promoters and promoter group members, intend to support the company's sustained growth efforts.

Advice to Shareholders

While the IDC has deemed the offer fair and reasonable, they have advised public shareholders to independently evaluate the open offer and make informed decisions about tendering their shares.

Disclosure and Transparency

The IDC's recommendation will be published in various newspapers, including:

• Financial Express (English)
• Jansatta (Hindi)
• Navshakti (Marathi)
• Indore Samachar (Hindi - Regional)

This move ensures transparency and wide dissemination of information to all stakeholders.

Implications for Shree Pacetronix

The open offer, if successful, could lead to a significant change in the shareholding structure of Shree Pacetronix Limited. With the acquirers already being part of the promoter group, this move may be seen as a consolidation of control within the company.

Investors and market watchers will be keenly observing the response to this open offer, as it could potentially impact the company's future strategic decisions and governance structure.

As the open offer process unfolds, shareholders of Shree Pacetronix Limited are encouraged to stay informed and consult financial advisors if needed before making decisions regarding their shareholdings.

Shree Pacetronix Limited , a company specializing in cardiac pacing technology, has announced the formation of a committee of independent directors to review and provide recommendations on an open offer. This development comes in response to an acquisition bid by Akash Sethi and associated parties.

Open Offer Details

The open offer, as disclosed by Shree Pacetronix, involves the following key points:

• Acquirer: Akash Sethi
• Persons Acting in Concert (PACs): Atul Kumar Sethi, Arnita Sethi, and Ashish Sethi
• Target: Up to 9,75,000 equity shares
• Percentage: 26% of the company's equity share capital
• Offer Price: ₹100.00 per share

Committee Formation

In compliance with Regulation 26(6) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Shree Pacetronix has established a committee of independent directors. The committee's primary role will be to provide recommendations regarding the open offer.

The composition of the committee is as follows:

Timeline of Events

The company has provided a timeline of key events related to the open offer:

• August 7: Date of the Public Announcement (PA)
• August 14: Publication of the Detailed Public Statement (DPS) in various newspapers
• August 21: Date of the Draft Letter of Offer (DLoF)
• October 15: Formation and announcement of the Independent Directors Committee

This committee formation is a crucial step in the open offer process, ensuring that the interests of all shareholders are considered. The independent directors will review the offer details and provide their recommendations, which will help shareholders make informed decisions regarding the open offer.

Shree Pacetronix Limited, with its 31 years of experience in cardiac pacing, continues to navigate corporate actions while maintaining its focus on 'Technology Serving Humanity'. As this situation develops, shareholders and potential investors should stay tuned for further updates and the committee's recommendations regarding the open offer.