nal Stock Exchange of India Ltd (NSE) (together the Stock Exchanges), in accordance with the provisions of Section 77A, 77AA, 77B and all other applicable provisions, if any, of the Companies Act, 1956 ("the Act") and the securities & Exchange Board of India (buyback of Securities) regulations 1998 ("the Buyback Regulations") and the relevant provisions of the Memorandum of Association and clause 3 of the Articles of Association of the Company subject to approval/s as may be necessary, from time to time from statutory authorities including but not limited to securities and Exchange Board of India, Stock Exchanges, Reserve Bank of India etc, as required at a maximum price not exceeding Rs 160 per equity shares ("Maximum Buyback Price") payable in cash, for an aggregate amount not exceeding Rs 4684 lakhs (rupees Forty-six crores eighty four lakhs only) ("the maximum Buyback Size"). The Buyback size represents 10% of the aggregate of the company's paid-up equity capital and eligible free reserves as on March 31, 2008 (the date of the latest standalone audited accounts as on the date of the resolution dated October 29, 2008 approving the Buyback by the Board of Directors of the Company) which is within the maximum permissible limit of 10% of the paid-up equity capital and eligible free reserves. The aggregate paid up equity share capital and eligible free reserves of the Company as at March 31, 2008 was Rs 46841 lakhs. The maximum number of shares the Company can buyback, as per Section 77A of the Act, in any financial year shall not exceed twenty-five percent of the total paid-up equity capital of the Company in that financial year. The actual number of equity shares to be bought back would depend upon the average price paid for the equity shares bought back and the amount deployed in the buyback in accordance with the resolution passed by the Board of Directors of the Company on October 29, 2008. The Company proposes to buy a minimum of 7,31,875 shares ("Minimum Offer Shares"). The maximum Buyback price offers a premium of 1.19% and 1.63% over the closing prices on BSE and NSE respectively prevailing on October 29, 2008 i.e. the date of the Board meeting approving the Buyback. The Closing price of shares as on October 29, 2008 on BSE & NSE was Rs 158.10 & Rs 157.40 respectively. Proposed Time Table Board Meeting Approving Buyback - October 29, 2008 Date of Public Notice - October 31, 2008 Date of Opening of Buyback - December 15, 2008 Acceptance of Shares - Within 15 days of the relevant payout dates of the respective Stock Exchanges. Extinguishment of Shares - Within 15 days of relevant payout dates Last Date for the Buyback - October 28, 2009 (i.e. 12 months from the date of the resolution passed by the Board of Directors of the Company at its meeting held on October 29, 2008). However, the Board in its absolute discretion may decide to close the Buyback at an earlier date in the event Minimum Offer Shares have been purchased under the Buyback even if maximum Buyback size has not been reached, by giving appropriate notice of such date and completing all formalities in this regard as per relevant laws and Regulations. There would be a completion of all payment obligations in respect of Buy-back prior to the last date of Buy-back.
Source: BSE Date:3 December, 2008
Lawreshwar Polymers
Lawreshwar Polymers Ltd has informed BSE about the Unaudited financial results for the Quarter ended September 30, 2008.
Source: BSE Date:3 December, 2008
Rajesh Strips
Rajesh Strips Ltd has informed BSE that the members of the Company will consider to approve the resolutions through Postal Ballot.
Source: BSE Date:3 December, 2008
Elecon Engineering Company
Elecon Engineering Company Ltd has informed BSE that Prayas Engineering Ltd, promoter of the Elecon Engineering Company Ltd have purchased total 60,000 Equity shares of Rs 2/- each of Elecon Engineering Company Ltd on December 02, 2008 from open market.
Source: BSE Date:3 December, 2008
DIC India
DIC India Ltd has informed BSE that the Company will publish audited results within a period of 3 months from the end of the last quarter of the financial year, in such a case unaudited results for the last quarter need not be published. Therefore, the Company will publish the Audited Financial Results for the year ended December 31, 2008 |
