M/s. ZIM LABORATORIES LIMITED

M/s. Saffron Capital Advisors Private Limited has submitted to the Exchange a copy of the Corrigendum to Public Announcement dated April 21, 2009, published on December 17, 2009 in the newspapers with reference to the proposed Open Offer to the equity sharesholders of M/s. Zim Laboratories Ltd.(Target Company) by M/s. Unijules Life Sciences Limited and Mr. Anwar S. Daud (the Acquirers) under Regulations 11(1) & 11(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations 1997 & subsequent amendments thereto (SEBI (SAST) Regulation).  No other person/individual/entity is acting in concert with the Acquirers for the purposes of this Offer.  This is not a competitive bid.

>     SEBI, vide its letter no. CFD/DCR/TO/SS/185964/2009 dated December 03, 2009, after considering the facts of the matter, has directed the Acquirers to withdraw the PA issued on April 21, 2009.

>     SEBI, vide their letter has also directed the Acquirers to provide an exit opportunity to the shareholders of Zim Laboratories Limited by making a delisting offer in terms of SEBI (Delisting of Equity Shares) Regulations, 2009.

>     Consequently, the Acquirers, through this instant corrigendum, withdraw the PA isuued on April 21, 2009, in terms of Regulation 27 (1) (d) of the SEBI (SAST) Regulations.

The Acquirers accept the full responsibility for the information contained in this Public Announcement and also for the obligations of the Acquirers as laid down in the SEBI (SAST) Regulations.

This announcement should be read in conjunction with the PA.  The terms not defined herein will have the same meaning as defined in PA (attached scan copy of the corrigendum).

Click here to download