Consortium Acquirers make open offer to shareholders of Mount Everest Mineral Water at Rs 6.50 per share

This Public Announcement is being issued by Enam Financial consultants Pvt.Ltd. ("Enam"), on behalf of Vasistha Ventures, Foresight Holdings Pvt.Ltd. and Motwani Enterprises Pvt.Ltd pursuant to Regulation 10 and 12, in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto. Vasistha Ventures, Foresight Holdings Pvt.Ltd. and Motwani Enterprises Pvt.Ltd. have entered into a Share Purchase Agreement dated June 9, 2001 with the promoters of Mount Everest Mineral Water Ltd ("The Target" or Mount Everest") namely Dr. Dadi Balsara, Dadi Resorts & Hotels Ltd and Pan Asian Investment Corporation to acquire 11,105,350 fully paid-up Equity Shares of Rs 10 each, representing 48.99% of the outstanding equity share capital of Mount Everest at a price of Rs5.00 per fully paid-up equity shares payable in cash. Consequent to the agreement, Vasistha Ventures, Foresight Holdings Pvt Ltd and Motwani Enterprises Pvt. Ltd are making an open offer to the remaining shareholders of Mount Everest Mineral Water Ltd to acquire 4.60 million fully paid up equity shares of Rs 10 each, representing 20.30% of the outstanding equity share capital of Mount Everest, at a price of Rs 6.50 per fully paid up Equity Share payable in cash. The offer is not subject to any minimum level of acceptance. The Specified Date (for the purpose of determining the names of the shareholders to whom the letter of offer would be sent) for the Open Offer has been fixed at June 15, 2001. The Open will open on August 02, 2001 and will close on August 31, 2001.

Saven Technologies FY-01 net down by 32.14%

Saven Technologies Ltd has reported a net profit of Rs 7.83 million for the year ended March 31, 2001 as compared to Rs 11.54 million for the previous year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 136.29 million as compared to Rs 72.44 million last fiscal. During the quarter ended March 31, 2001, the Company has formed a Joint Venture in UK to concentrate on Wireless Technologies. The Company has reported that the decline in net profit may be attributed to the slowdown in the US economy, which has adversely affected the IT sector in particular. The Register of Members and Share Transfer Books of the Company will remain closed from July 13, 2001 to July 18, 2001 (both days inclusive) for the purpose of the Annual General Meeting scheduled to be held on July 18, 2001.

Modi Rubber clarifies on news article

With reference to a news article appearing in a leading financial daily titled " FIs ask Modi Rubber promoters to hike offer price by 10-15%" Modi Rubber Ltd. has informed BSE that the contents of the news item seems to suggest that institutional shareholders have asked the Acquirers to increase the Offer Price. Moreover, the Company has received no communication as yet from the Acquirers/Financial Institutions regarding any increase in the Offer Price of the size of the Offer. The Company has denied of having any knowledge of any counter offer/competitive bid made by any party as of date. The Company has also stated that no communication either from the Acquirers or from the Financial Institutions regarding their proposed course of action vis-a-vis the captioned offer.

BSES FY-01 results on June 28, 2001

A meeting of the Board of Directors of BSES Ltd is scheduled to be held on June 28, 2001, inter alia, to consider and approve the Audited Financial Results of the Company for the year ended March 31, 2001. The aforesaid meeting will also consider recommendation of Dividend, if any.

Kesoram Industries clarifies on news article

With reference to the news article appearing in a leading financial daily titled "BK Birla group mulls ten firms merger" Kesoram Industries Ltd. has informed BSE that except merger of the following companies with the Company no other proposal regarding merger of other companies with Kesoram Industries Ltd as reported in the said article is under consideration. 1. Birla Century Finance Ltd. 2. Bharat General & Textile Industries Ltd. 3. Hindustan Heavy Chemicals Ltd.

Nocil denies news article

With reference to the news article appearing in a leading financial daily titled " Shell may begin talks again for Nocil stake" National Organic Chemical Industries Ltd has informed BSE that the Company has not received any intimation from the representatives of Basell Polyolefins regarding their visit to the promoters of the Company for renegotiations.

Jammu & Kashmir Bank Ltd announces appointment of new Directors

Jammu & Kashmir Bank Ltd has informed BSE that the following persons have been appointed/re-appointed as Directors on the Board of Directors of the Bank at the Annual General Meeting held on June 11, 2001. Further, the Company has also informed that the following Finance Luminaries were appointed as Additional Directors on the Board of Directors of the Bank at the meeting of the Board of Directors of the Bank held on June 11, 2001. Dr A M Khusro, recipient of the Commander's Cross of the order of merit from the Government of the Federal Republic of Germany way back in 1992 and holding degree of LLD (Honaris Causa) from the University of Leeds, UK and a degree of D.Litt. (Honaris Causa) from Gulberg University, has been Chairman, 11th Finance Commission, besides being Chairman, Aga Khan Foundation (India), President, Federation of Indo-German societies and Chairman, Institute of Economic Growth. Shri G P Gupta has been Chairman IDBI, besides being Chairman of reputed Institutions such as UTI, SIDBI, NSE, Member - LIC , GIC and Director of various well known Companies such as Export-Import Bank of India, Infrastructure Development Finance Company Ltd., Indian Airlines Ltd., DFHI, Director-Securities Trading Corporation of India Ltd., etc Shri Vipin Malik, Chartered Accountant by profession, has been on the Board of various Banks and FIS- notable amongst those being Reserve Bank of India, Unit Trust of India Investment Advisory Services, Industrial Finance Corporation of India and Canara Bank.

UTI Bank clarifies on news article

With reference to a news story line flashed by Reutars on June 12, 2001, UTI Bank Ltd, in a communication to the BSE has clarified that the Bank is in discussions with a number of investors for raising additional capital for the Bank but added that the Bank has not taken any final decisions in this matter.

Otco International Q4 net at Rs 6.84 million, FY-01 net at Rs 8.80 million, Board recommends 2:1 Bonus

Otco International Ltd has posted a net profit of Rs 6.84 million for the quarter ended March 31, 2001 as compared to Rs 0.49 million for the quarter ended March 31, 2000. Total Income for the quarter ended March 31, 2001 is at Rs 24.29 million as compared to Rs 2.46 million for the quarter ended March 31, 2000. Net Profit for the year ended March 31, 2001 is at Rs 8.80 million as compared to Rs 2.19 million for the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 33.72 million as compared to Rs 7.86 million for the year ended March 31, 2000. The Board of Directors has recommended a bonus issue of two shares for every one share held subject to approval of the shareholders. The Board of Directors has also recommended a Dividend of Rs 2 per share subject to the approval of the shareholders.

Deccan Cements posts Rs 67.03 million as net profit for FY-01

Deccan Cements Ltd has posted a net profit of Rs 67.03 million for the year ended March 31, 2001 as against Rs 9.564 million for the previous year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 543.42 million as compared to Rs 428.09 million last fiscal. The Board has recommended a dividend of 25% for the year ended March 31, 2001.

Silverline Tech Board to consider issue of warrants on preferential basis

Silverline Technologies Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on June 14, 2001 to consider and recommend to the members, at the forthcoming Annual General Meeting, issue of warrants to a promoter Company on preferential basis. The following additional items are also to be transacted: 1. Consider and recommend to the members, in the forthcoming Annual General Meeting, issue of unsecured optionally convertible debentures in the US. 2. Consider and recommend to the members, in the forthcoming Annual General Meeting, issue of fresh ADR Linked Stock Options to the employees of the subsidiaries. 3. To consider strategic expansion plans of the Company's business in the US.

Andhra Bank FY-01 net up by 0.49%, Total Income up by 24.28%

Andhra Bank has posted a net profit of Rs 1211.90 million for the year ended March 31, 2001 as compared to Rs 1205.90 million for the corresponding previous year. Total Income for the year ended March 31, 2001 is at Rs 20796.80 million as against Rs 16733.80 million for the previous year ended March 31, 2000. The Board of Directors of the Bank has declared a Dividend of Re 1 per share i.e. @ 10% The Bank has reported that during the year ended March 31, 2001, VRS and other expenses of Rs 748.90 million being extra-ordinary in nature has been debited to the Profit & Loss A/c. of the Bank. The Register of Share holders and Share Transfer Books will remain closed from July 23, 2001 to August 02, 2001.

TV-18 MD sells 14000 equity shares of the Company

Television Eighteen India Ltd has informed BSE that Mr Raghav Bahl, Managing Director of the Company has sold 14,000 equity shares of the Company through the market.

IDBI resents Binani Board's recommendation of Dividend

Industrial Development Bank of India, in a communication to the BSE has intimated that it has not accorded approval to the payment of Dividend recommended by the Board of Directors of Binani Industries Ltd. Binani Industries Ltd, which had availed financial assistance from IDBI, is required to obtain its approval for the payment of Dividend in terms of covenants of the loan agreements. Binani Industries had approached IDBI for necessary approval to declare Dividend at the rate of 20% for the year ended March 31, 2001. The request of the Company was examined by IDBI and the approval to the same had not been granted. IDBI's Nominee Director had also brought this fact to the notice of the Company's Board at its meeting held on June 07, 2001. Despite IDBI's disapproval to the aforesaid issue, the Company's Board has recommended the payment of Dividend.

M M Forgings Q4 net up by 62.25%, FY-01 net up by 1.69%

M M Forgings Ltd has posted a net profit of Rs 22.16 million for the quarter ended March 31, 2001 as compared to Rs 13.66 million in the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 163.83 million as compared to Rs 194.39 million for the quarter ended March 31, 2000. Net Profit for the year ended March 31, 2001 is at Rs 66.27 million as compared to Rs 65.17 million for the previous year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 698.24 million as against Rs 709.07 million for the previous year ended March 31, 2000. The Board of Directors of the Company has recommended a Dividend of 40%.

M & M clarifies on news article

With reference to news article appeared in a leading financial daily titled "Mahindra Defence in talks with UK arm" Mahindra & Mahindra Ltd has informed BSE that the Company had set up a separate Division - Mahindra Defence Systems (MDS) in June last year with a view to expand the Company's activities in the defence sector beyond making vehicles. MDS is to operate in four areas - military vehicles, armoured vehicles, software solutions for defence besides supplying components and materials. The Company has confirmed that MDS has initiated dialogue with a UK based firm, however, no decision has been taken in this regard as yet.

Jammu & Kashmir Bank receives RBI approval for payment of Dividend

Jammu and Kashmir Bank Ltd has informed BSE that the Bank has received approval from the Reserve Bank of India for the payment of 40% Dividend (free for tax in the hands of shareholders) to its shareholders for the year ended March 31, 2001 as recommended by the Board and approved by the shareholders in the Annual General Meeting held on June 11, 2001.

JB Chemicals FY-01 net up by 41.81%

JB Chemicals & Pharmaceuticals Ltd has posted a net profit of Rs 312.30 million for the year ended March 31, 2001 as compared to Rs 220.22 million last fiscal. Total Income for the year ended March 31, 2001 is at Rs 2460.73 million as compared to Rs 1810.73 million for the previous year ended March 31, 2000. The results are not comparable with that of the previous year as they include the results of pharmaceutical divisions of Ifrunik Pharmaceuticals Ltd, and Unique Pharmaceutical Laboratories Ltd., pursuant to the approval of the Scheme of Arrangement by the Honorable High Court, Bombay. The Directors have recommended dividend of Rs 5 per share (50%) on the enhanced capital of Rs 160.60 million, divided into 1,60,5900 Equity Shares of Rs 10.

Britannia denies news item

With reference to a news item "Cool & Refreshing" Britannia Industries Ltd has informed BSE that the company is not in any negotiations for the acquisition of Bisleri.

Saregama India announces Organisational changes, revises prices in certain categories

Saregama India Ltd has announced the following developments with regard to the Company: a) Mr N Sathasivam Vice President : Finance of the Company has moved within the RPG Group as Head of Finance of the retail sector w.e.f June 1, 2001. Mr Sathasivam was also concurrently handling the International operations i.e. SAregama Plc. and RPG Global Music Ltd. b) Subsequent to Mr Sathasivam's move Mr S D Gurudutt, CEO of FM Audio Software, will take the additional responsibility of the International operations i.e. Saregama Plc. and RPG Global Music Ltd . Mr Gurudutt will be reporting to Mr Abhik Mitra, Managing Director of the Company. c) Mr Adit Atal, General Manager : Commercial and Finance will handle the Commercial and Finance portfolios for the Company. Mr Adit Atal will be reporting to Mr Abhik Mitra, Managing Director of the Company. d) The Investors Relations will be handled by Mr Abhik Mitra, Managing Director of the Company along with Mr B L Chandak, Vice President: Group Corporate Investor Relations and Mr Adit Atal The Company has decided to revise the prices in certain categories such as Old Hindi Films as also in Ghazals, Hindusthani Classics, Basic and Regional. The effect of this revision should be reflected in the financial results of the Company from July 2001 onwards. The aforesaid revisions are a part of the exercise which aims to off set increased pressure on costs, etc while at the same time improving operating margins.

Ramco Inds to call EGM to seek approval on licensing of Maksi pressure pipe plant

Ramco Industries Ltd has informed BSE that the Board of Directors of the Company has approved convening of an EGM on July 06, 2001 for obtaining approval in connection with licensing of the Company's Pressure Pipe plant at Maksi to a prospective Licensee.

Ind AA rating assigned to Magma Leasing's Rs 60 million NCD programme

Magma Leasing Ltd has informed BSE that FITCH Rating India has assigned an Ind AA (SO) rating to the 24 months Rs.60 million structured NCD programme of the Company.

Varun Shipping to issue convertible warrants on preferential basis

Varun Shipping Co. Ltd has informed BSE that the Board of Directors of the company has recommended issue of 36,26,159 Optionally Fully Convertible Warrants to Concord Holdings Pvt. Ltd., a promoter group company on preferential basis.

BAT plans to increase its stake in VST Industries

VST Industries Ltd has informed BSE that the Company has received a communication from British American Tobacco, U K (BAT) group which holds 32.16% of shares of the Company, that the group is interested in increasing their shareholding in the Company. As a pre-requisite to enable them apply to FIPB they have sought for support from the Company's Board and to consider acting favourably on a resolution at the next Board Meeting.

BSE imposes 25% Special Margin on 2 scrips

BSE has informed members of the exchange that Special Margin of 25% has been imposed on the under mentioned scrips with effect from today (June13, 2001) Code Scrip Name Group 32268 KALE CONSULTANTS LTD B1 26785 CREST COMMUNICATION B1

Mico Bangalore plant to stop work for 5 days

Motor Industries Company Ltd has informed BSE that the Bangalore Plant of the Company will not work for 5 days from June 18, 2001 to June 22, 2001. Adverse business situation and curtailment of orders by customers have necessitated this step by the Company. The Company has however, decided to continue 5-days working week at its Bangalore Plant which was introduced with effect from April 28, 2001.

Titan Industries denies news item

With reference to the news article appearing in a leading financial daily titled " Titan sees good times" Titan Industries Ltd has informed BSE that there has been no announcement by the Company that it will market its jewellery brand TANISHQ in the USA as has been stated in the article. The Company has further clarified that the Company has been supplying jewellery to the American market since 1995-96 and is continually exploring new opportunities for business in that country. However the Company will continue to focus for the present on the Indian market where greater opportunities for growth and profit currently lie.

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