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| Exchange Disseminated Time | Manaksia Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 28, 2010, inter alia, has approved the proposal for Buy-back of equity shares of the Company under proviso (B) to Section 77A (2) of the Companies Act, 1956, subject to appropriate approvals, if any. The brief particulars of the buyback are as under:
1. The maximum amount of buy back shall be for an amount not exceeding Rs 5000.00 lacs, constituting 9.98% of the paid-up capital & free reserves of the Company.
2. The buy back will be for a minimum of 10,00,000 equity shares and for a maximum of 40,00,000 equity shares.
3. The maximum buy back price is Rs. 200 /- per equity share.
4. The buy back shall be made from the open market through stock exchange method using electronic trading facilities of BSE & NSE.
5. The Board has appointed VC Corporate Advisors Private Ltd., Kolkata as the Merchant Banker for the buy-back Offer. |
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