Posting of Offer Document

 
TIDMDHIR 
 
21 December 2011 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, OR FROM, 
ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT 
LAWS OF SUCH JURISDICTION 
 
                                 Cash Offer by 
 
                       Acorn Global Investments Limited 
 
                                      for 
 
                          Dhir India Investments plc 
 
Further to the announcement on 20 December 2011 of the cash offer by Cairn 
Financial Advisers LLP ("Cairn Financial Advisers") on behalf of Acorn Global 
Investments Limited ("Acorn") for the entire issued and to be issued share 
capital of Dhir India Investments plc ("DII") (the "Offer"), Acorn announces 
that the offer document dated 20 December 2011 in respect of the offer (the 
"Offer Document") and the Form of Acceptance were posted to DII shareholders 
yesterday. 
 
The first closing date of the Offer is 1 p.m. (London time) on Wednesday, 11 
January 2012. 
 
Copies of the Offer Document are available, subject to certain restrictions 
relating to persons resident in Restricted Jurisdictions, for inspection on 
Acorn's website at www.acornglobalinvestments.net and for collection from Cairn 
Financial Advisers LLP, 61 Cheapside, London EC2V 6AX or Share Registrars 
Limited, Suite E, First Floor, 9 Lion & Lamb Yard, Farnham, Surrey GU9 7LL. 
 
Certain terms used in this announcement are defined in the Offer Document. 
 
Enquires: 
 
Acorn Global Investments Limited                         [phone] 
 
Anup N Dalal 
 
Cairn Financial Advisers LLP - Financial Advisers to     [phone] 
Acorn 
 
Tony Rawlinson / Jo Turner 
 
Dhir India Investments plc                               [phone] 
 
Charlie Hambro 
 
Evolution Securities - Nominated Adviser to DII          [phone] 
 
Jeremy Ellis /Patrick Castle 
 
Cairn Financial Advisers, which is authorised and regulated in the United 
Kingdom by the Financial Services Authority, is acting exclusively for Acorn 
and no-one else in connection with the Offer. Cairn Financial Advisers will not 
be responsible to anyone other than Acorn for providing the protections 
afforded to clients of Cairn Financial Advisers or for giving advice in 
relation to the Offer or the content of, or any matter or arrangement referred 
to in, this announcement. 
 
 
 
Evolution Securities, which is authorised and regulated in the United Kingdom 
regulated by the Financial Services Authority, is acting exclusively for DII as 
independent financial adviser, and no one else in connection with the Offer and 
will not be responsible to any other person other than DII for providing the 
protection afforded to clients of Evolution Securities or for giving advice in 
relation to the Offer or the content of this announcement or any transaction or 
arrangement referred to herein. 
 
Dealing Disclosure Requirements 
 
 
 
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of 
any class of relevant securities of an offeree company or of any paper offeror 
(being any offeror other than an offeror in respect of which it has been 
announced that its offer is, or is likely to be, solely in cash) must make an 
Opening Position Disclosure following the commencement of the offer period and, 
if later, following the announcement in which any paper offeror is first 
identified. An Opening Position Disclosure must contain details of the person's 
interests and short positions in, and rights to subscribe for, any relevant 
securities of each of (i) the offeree company and (ii) any paper offeror(s). An 
Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be 
made by no later than 3.30 pm (London time) on the 10th business day following 
the commencement of the offer period and, if appropriate, by no later than 3.30 
pm (London time) on the 10th business day following the announcement in which 
any paper offeror is first identified. Relevant persons who deal in the 
relevant securities of the offeree company or of a paper offeror prior to the 
deadline for making an Opening Position Disclosure must instead make a Dealing 
Disclosure. 
 
 
 
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% 
or more of any class of relevant securities of the offeree company or of any 
paper offeror must make a Dealing Disclosure if the person deals in any 
relevant securities of the offeree company or of any paper offeror. A Dealing 
Disclosure must contain details of the dealing concerned and of the person's 
interests and short positions in, and rights to subscribe for, any relevant 
securities of each of (i) the offeree company and (ii) any paper offeror, save 
to the extent that these details have previously been disclosed under Rule 8. A 
Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no 
later than 3.30 pm (London time) on the business day following the date of the 
relevant dealing. 
 
 
 
If two or more persons act together pursuant to an agreement or understanding, 
whether formal or informal, to acquire or control an interest in relevant 
securities of an offeree company or a paper offeror, they will be deemed to be 
a single person for the purpose of Rule 8.3. 
 
 
 
Opening Position Disclosures must also be made by the offeree company and by 
any offeror and Dealing Disclosures must also be made by the offeree company, 
by any offeror and by any persons acting in concert with any of them (see Rules 
8.1, 8.2 and 8.4). 
 
 
 
Details of the offeree and offeror companies in respect of whose relevant 
securities Opening Position Disclosures and Dealing Disclosures must be made 
can be found in the Disclosure Table on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk, including details of the number of relevant 
securities in issue, when the offer period commenced and when any offeror was 
first identified. 
 
 
 
If you are in any doubt as to whether you are required to make an Opening 
Position Disclosure or a Dealing Disclosure, you should contact the Panel's 
Market Surveillance Unit on [phone]. 
 
Overseas shareholders 
 
This announcement has been prepared for the purpose of complying with English 
law and the Code and the information disclosed is not the same as would have 
been disclosed if this announcement had been prepared in accordance with the 
laws of jurisdictions outside the United Kingdom. Unless otherwise determined 
by Acorn or required by the Code and permitted by applicable law and 
regulation, the Offer is not being made, directly or indirectly, in, into or 
from, or by use of the mails of, or by any means or instrumentality (including, 
without limitation, electronically or by facsimile transmission, internet, 
email, telex or telephone) of interstate or foreign commerce of, or any 
facility of a national, state or other securities exchange of, the United 
States, Canada, Australia, Japan or any other Restricted Jurisdiction and, 
subject to certain exceptions, the Offer cannot be accepted by any such use, 
means, instrumentality or facility or from within the United States, Canada, 
Australia, Japan or any other Restricted Jurisdiction. Accordingly, unless 
otherwise determined by Acorn or required by the Code and permitted by 
applicable law and regulation, copies of this document and any related document 
are not being, and must not be, directly or indirectly, mailed, distributed, 
transmitted, forwarded or otherwise sent, in whole or in part, in, into or from 
the United States, Canada, Australia, 
 
Japan or any other Restricted Jurisdiction and persons receiving this document 
or any related document (including, without limitation, custodians, nominees 
and trustees) should not distribute, mail, transmit, forward or send them or 
any of them in, into or from the United States, Canada, Australia, Japan or any 
other Restricted Jurisdiction as doing so may render invalid any purported 
acceptance of the Offer by any such person in any jurisdiction in which such 
offer or solicitation is unlawful. 
 
The availability of the Offer to persons not resident in the United Kingdom or 
who are subject to the laws of any jurisdiction other than the United Kingdom 
may be affected by the laws of the relevant jurisdiction. Such persons should 
inform themselves about, and observe, any applicable legal or regulatory 
requirements. Further details in relation to overseas shareholders are 
contained in the Offer Document. 
 
 
 
END