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| Exchange Disseminated Time | Panama Petrochem Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 14, 2013, inter alia, has approved the buyback of upto 11,16,890 fully paid up equity shares of Rs. 10/- each, at a maximum price Rs. 160 per equity share, payable in cash, upto an aggregate amount not exceeding Rs. 1787.02 lakh from the "Open Market" through the "Stock Exchange" method, such that total amount to be utilized for the proposed buyback will be less than or equal to 10% of the paid up equity capital and free reserves of the Company as on March 31, 2012.
The maximum buyback price represents a nearly 17% premium over the last closing Price. |
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