Disclosure of sale of shares

RNS Number:1757W
Associated Cement Companies Ld(The)
23 December 2005



SHR LSE EVEIND 17248



23rd December, 2005



Dear Sirs,



DISCLOSURE OF DETAILS OF ACQUISITION TO TARGET COMPANY AND STOCK EXCHANGES WHERE
THE SHARES OF THE TARGET COMPANY ARE LISTED, IN TERMS OF REGULATION 7(1A) OF
SEBI (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 1997


Name of the Target Company                                Everest Industries Limited

Name of the Acquirer and PACs with the Acquirer           The Associated Cement Companies Limited
Details of Acquisition as follows                         Number of shares          %w.r.t. total paid
                                                                                    up capital of Target
                                                                                    Company
(a) Shares/Voting rights (VR) before sale                 1,12,42,000               75.96
    under consideration                                   (See note below)
(b)  Shares/voting rights sold                            11,40,000                 7.70
(c)  Shares/VR after sale                                 1,01,02,000               68.26

                                                          (See note below)
Mode of acquisition (e.g. open market / public issue /                         NIL
rights issue / preferential allotment / inter se transfer
etc.).
Mode of sale (e.g. open market/MOU/off market etc.)       Open Market

Date of sale of shares/VR or date of receipt of           21st December, 2005 & (Date of Sale)
intimation of allotment of shares, whichever is
applicable                                                22nd December, 2005
Paid up capital/total voting capital of the target        1,48,00,020 shares of Rs. 10/- each
company before the said sale
Paid up capital/total voting capital of the target        1,48,00,020 shares of Rs. 10/- each
company after the said sale



Note :  This shareholding  includes 74,00,020 shares for which the Company has
entered into a Share Purchase Agreement dated 14th October, 2005 with Everest
Finvest (India) Pvt. Ltd. for sale and transfer of the said shares subject to
compliance with SEBI ((Substantial Acquisition of Shares and Takeovers)
Regulations, 1997



Signature  :  For The Associated Cement Companies Limited





                      A. Anjeneyan

                      Company Secretary



Place  :  Mumbai
Date   :  23rd December, 2005






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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