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| Exchange Disseminated Time | Selan Exploration Technology Ltd ("Target Company" / "SETL") has submitted to BSE a Copy of Post Buy back Public Announcement to the Equity Shareholders / Beneficial Owners of the equity shares of the Target Company regarding Completion of Buyback Offer in compliance with Regulation 19(7) of the Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 and subsequent amendments thereof.
A. The Buy-back:
The Target Company had announced the Buyback of its fully paid up equity shares of the face value Rs. 10/- each (‘Equity Shares’) from its equity shareholders (the ‘Buyback’) other than the promoters, persons who are in control of the company and Promoter Group from the Open market using the electronic trading facilities of the BSE Limited ("BSE") and The National Stock Exchange of India Limited (‘NSE’) (together ‘the Stock Exchanges’), in accordance with the provisions of Sections 77A, 77AA, 77B and all other applicable provisions, if any, of the Companies Act, 1956 (‘the Act’),the Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 (‘the Buyback Regulations’) at a price not exceeding Rs. 350/- per Equity Share (‘Maximum Offer Price’) payable in cash, for an aggregate amount not exceeding Rs. 2023.28 lacs. A Public Announcement (PA) to this effect was published on September 18, 2012.
The Buyback was effected through the Open Market Route using the electronic trading facilities of BSE and NSE.
The Buyback commenced on October 17, 2012 and closed w.e.f. September 13, 2013. Till closure of Buyback, the Company has utilized 79.56% of the amount authorized for the Buyback.
B. Details of the Buy back:
The total number of Equity Shares bought back under the Buyback is 5,87,043 Equity Shares. All the bought back shares have been extinguished as on date.
The total amount utilized in the Buyback is Rs, 1609.71 Lakhs.
The price at which the Equity Shares were bought back was dependent on the price quoted on the BSE and NSE. The highest price at which the Equity Shares were bought back was Rs. 335.00 per Equity Share while the lowest price was Rs. 221.80 per Equity Share. The Equity Shares were bought back at a weighted average price of Rs. 274.21 per Equity Share.
The Equity Shares were bought in the demat segment from the Stock Exchanges. As the offer for the Buyback of the Equity Shares of the Company was from the open market through Stock Exchanges, the identity of shareholders from whom Equity Shares exceeding one percent of the total Equity Shares bought in the Buyback is not known. |
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