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| Exchange Disseminated Time 17/11/2017 16:55:39 | Mayur Uniquoters Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 17, 2017, inter alia, has transacted the following business:
1. Declared Second Interim Dividend of Rs. 0.25 per equity share (5%) for the financial year 2017-18.
2. Approved the Buyback up to 4,50,000 fully paid up Equity Shares (Four Lakhs Fifty Thousand) of the Company for an aggregate amount not exceeding Rs. 24,75,00,000/- (Rupees Twenty Four Crores Seventy Five Lakhs only) (the "Buyback Size") being 0.98 % of the total paid up equity share capital, at Rs. 550 (Rupees Five Hundred Fifty only) per Equity Share (the "Buyback Price"). The Buyback is proposed to be made to all existing shareholders of the Company on the Record Date, on a proportionate basis under the tender offer route in accordance with the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 ("Buyback Regulations") and the Companies Act, 2013 and rules made thereunder. The Buyback Size does not include any expenses incurred or to be incurred for the Buyback like filing fees payable to the Securities and Exchange Board of India ("SEBI"),advisors fees, public announcement publication expenses, printing and dispatch expenses and other incidental and related expenses.
The Board noted the intention of the Promoter and Promoter Group of the Company to participate in the proposed Buyback.
The public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the Buyback Regulations. The Board has formed a Buyback Committee to do all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary, expedient, usual or proper in connection with the proposed Buyback. |
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