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 within the aforesaid prescribed period of three months.
Source: BSE Date:3 December, 2008
Cinevistaas
Cinevistaas Ltd has informed BSE that a meeting of the Board of Directors of the company was held on December 03, 2008, to consider allotment of shares upon exercise of option attached to convertible warrants held by the allottees, issued to them pursuant to Preferential allotment made at EGM held on May 21, 2007, in due compliance with SEBI guidelines, rules, regulations and the Companies Act, 1956. The Board of the Company allotted 6768975 equity shares of Rs 2 each, fully paid up, to the allottees, who exercised their option of conversion, as per the list placed before the meeting. There is no revision in the shareholding percentage subsequent to allotment, of either the Promoters or the Public category, hence it is due compliance with the Takeover Code.
Source: BSE Date:3 December, 2008
|
