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| Exchange Disseminated Time | Karvy Investor Services Ltd ("Manager to the Buyback") on behalf of OnMobile Global Ltd (“Target Company”) has informed this Post Buyback Public Announcement which is issued in compliance with Regulation 19(7) of the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 1998 and subsequent amendments thereto.
The Buyback:
Target Company had announced the buyback of fully paid up equity shares of Rs. 10 each of the Company (“Shares”), not exceeding 5,800,000 Shares (“the Buyback”) from existing owners / beneficial owners of Shares from the open market through stock exchange using electronic trading facilities of BSE Ltd (“BSE”) and The National Stock Exchange of India Ltd (“NSE”) in accordance with Sections 68,69,70 of the Companies Act, 2013 and other applicable provisions, if any, of the Companies Act, 1956 (to the extent not repealed) and Companies Act 2013 (to the extent notified) and SEBI (Buyback of Securities) Regulations 1998, as amended, at a price not exceeding Rs.86 per share payable in cash for an aggregate amount not exceeding Rs. 4,900 lakhs (excluding brokerage and other charges, if any). A Public Announcement to shareholders / beneficial owners was published on December 15, 2014.
The Buyback Offer had opened on December 22, 2014 and closed on January 15, 2015.
Details Of The Buyback:
The total number of Shares bought back under the Buyback were 5,800,000 Shares being 100% of the maximum offer shares pursuant to the Buybuck Offer.
The total amount invested in the Buyback is Rs. 4427.93 Lakhs (Rupees Forty four crores twenty seven lakhs and ninety three thousand only) including brokerage and other charges.
The price at which the Shares were bought back was dependent on the price quoted on BSE and NSE. The highest price at which Shares were bought back was Rs. 85.80 per share on BSE (12/01/2015) and Rs. 85.80 per share on NSE (12/01/2015) while the lowest price was Rs. 68.00 per share on BSE (22/12/2014) and Rs. 67.95 per share on NSE (22/12/2014) (all prices excluding brokerage and other charges). Over all the Shares were bought back at an average price of Rs. 76.34 per share (price including brokerage and other charges).
As the offer for the Buyback of Shares was from the open market through stock exchanges, the identity of shareholders from whom Shares exceeding 1% of total Shares bought in buyback is not known.
As on the date of this Public Announcement 4,821,683 Shares are extinguished of the total 5,800,000 Shares bought back and the Company is in the process of extinguishing balance 978,317 Shares. |
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