Aban Offshore announces floor price for QIP issue

Floor price is Rs 731.97 per equity share

Aban Offshore announced that subsequent to the approval accorded by the Board of Directors of the Company, at its meeting held on 28 May 2013 and 28 May 2014 and the approval of the shareholders of the Company by way of special resolution dated 20 September 2013 for the QIP, Capital Issue Committee of the Company on 30 June 2014, inter alia has passed resolutions in connection with the following:

i) Authorizing the opening of the QIP on 30 June 2014

ii) Approving and adopting the preliminary placement document dated 30 June 2014 in connection with the QIP, (the "Preliminary Placement Document"). Further, the Company has filed the preliminary placement document dated 30 June 2014 with your office;

iii) Approval of the floor price for the QIP.

Further the Company has inform that the "Relevant Date" for this purpose, in terms of Regulation 81(c)(i) of the SEBI Regulations, is 30 June 2014 and accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 85(1) of the SEBI Regulations is Rs 731.97 per Equity Share.

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