NYSE The New York Stock <strong>Exchange</strong>. OCB Overseas Corporate Body, as defined under the Foreign <strong>Exchange</strong> Management (Deposit) Regulations, 2000. Open Offer This open <strong>of</strong>fer being made by the Acquirer <strong>and</strong> the PACs, to the Shareholders to acquire 40,02,185 Shares, representing 26% <strong>of</strong> the total Shares <strong>of</strong> the Target Company at the Open Offer Price as <strong>of</strong> the tenth Working Day from the Closure <strong>of</strong> the Tendering Period, payable in cash <strong>and</strong> subject to the terms <strong>and</strong> conditions mentioned in this Letter <strong>of</strong> Offer, the PA <strong>and</strong> the DPS in terms <strong>of</strong> Regulations 3(1) <strong>and</strong> 4 read with 5(1) <strong>of</strong> SEBI (SAST) Regulations, 2011. Open Offer Escrow Account Open Offer Escrow Agreement Escrow account maintained by Exelvia with the Escrow Bank in accordance with Open Offer Escrow Agreement. The escrow agreement between Exelvia, the Acquirer, the Manager to the Open Offer <strong>and</strong> the Escrow Bank, dated January 30, 2012. Open Offer Price INR 550.10 per Share (rounded <strong>of</strong>f to INR 550 per Share in the DPS, for ease <strong>of</strong> presentation). Open Offer Size 40,02,185 Shares, representing 26% <strong>of</strong> the total Shares <strong>of</strong> the Target Company as <strong>of</strong> the tenth working day from the Closure <strong>of</strong> the Tendering Period <strong>of</strong> the Open Offer. PA Public Announcement <strong>of</strong> the Open Offer made by the Manager to the Open Offer on behalf <strong>of</strong> the Acquirer <strong>and</strong> the PACs on January 18, 2012 in accordance with Regulations 3(1), 4, 5(1) read with Regulations 13(2)(e) <strong>and</strong> 15(1) <strong>of</strong> the SEBI (SAST) Regulations, 2011. PACs Colfax UK, Exelvia <strong>and</strong> ESAB Holdings. PAN Permanent Account Number. Primary Acquisition Has the meaning given to it in paragraph 2.1.2 <strong>of</strong> this Letter <strong>of</strong> Offer. RBI The Reserve Bank <strong>of</strong> <strong>India</strong>. Registrar/Registrar to the Open Offer Link Intime <strong>India</strong> Private Limited. SCRR <strong>Securities</strong> Contract (Regulation) Rules, 1957. SEBI The <strong>Securities</strong> <strong>and</strong> <strong>Exchange</strong> <strong>Board</strong> <strong>of</strong> <strong>India</strong>. SEBI Act <strong>Securities</strong> <strong>and</strong> <strong>Exchange</strong> <strong>Board</strong> <strong>of</strong> <strong>India</strong> Act, 1992. SEC U.S. <strong>Securities</strong> <strong>and</strong> <strong>Exchange</strong> Commission. SEBI (SAST) Regulations, 1997 SEBI (SAST) Regulations, 2011 The <strong>Securities</strong> <strong>and</strong> <strong>Exchange</strong> <strong>Board</strong> <strong>of</strong> <strong>India</strong> (Substantial Acquisition <strong>of</strong> Shares <strong>and</strong> Takeovers) Regulations, 1997, <strong>and</strong> subsequent amendments thereto. The <strong>Securities</strong> <strong>and</strong> <strong>Exchange</strong> <strong>Board</strong> <strong>of</strong> <strong>India</strong> (Substantial Acquisition <strong>of</strong> Shares <strong>and</strong> Takeovers) Regulations, 2011, <strong>and</strong> subsequent amendments thereto. Shareholders Persons holding Share(s) excluding the Acquirer <strong>and</strong> the PACs. Share(s) Fully paid-up equity share(s) <strong>of</strong> the Target Company, having a face value <strong>of</strong> INR 10 each. Special Depository Account The special despository account opened by the Registrar to the Open Offer with the NSDL for receiving Shares tendered during the Open Offer. Stock <strong>Exchange</strong>(s) BSE <strong>and</strong> NSE Target Company ESAB <strong>India</strong> Limited, a company incorporated in 1987 with its registered <strong>of</strong>fice at Plot No.13, 3rd Main Road, Industrial Estate, Ambattur, Chennai 600 058. Tax Clearance Certificate Certificate to be furnished by the NRIs/OCBs/FIIs <strong>and</strong> other non-resident Shareholders indicating the amount to be deducted by the Acquirer/ PACs under the Income Tax Act, before remitting the consideration. 6
Tendering Period Monday, March 19, 2012 to Monday, April 02, 2012. Working Day A working day <strong>of</strong> SEBI. 7
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