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| Exchange Disseminated Time | | Aro Granite Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 08, 2009, inter alia, has accorded the Board to purchase such number of its own fully paid-up Equity shares of Rs 10/- each (“Equity Shares”) not exceeding 12,50,000 Equity Shares (“Maximum Offer Shares”) and a minimum number of 10,00,000 Equity Shares (“Minimum offer Shares”), from its existing shareholders, other than those who are Promoters, Promoter Group, Directors of Promoters, Persons in Control and Persons Acting in Concert (such shareholders hereinafter referred to collectively as “Persons in Control”) [that being understood that the “Persons in Control” and “Persons Acting in Concert” will be such persons as have been disclosed under the filings made by the Company under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, as amended (“SEBI Takeover Regulations”)] for a total consideration (“Maximum Offer Size”) not exceeding Rs 550 lacs and at a price not exceeding Rs 55/- per Equity Share (“Maximum Offer Price”) (the process being referred hereinafter as “Buy-back”), provided that such Buy—back shall be within 10% of the total paid up capital and free reserves and 25% of the paid-up share capital of the Company in the current financial year. |
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