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| Exchange Disseminated Time | eClerx Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 08, 2013, inter-alia, has approved the proposal for Buy-Back of equity shares of the Company, pursuant to the provisions of the Companies Act, 1956 and the SEBI (Buy-back of Securities) Regulations 1998 as amended from time to time up to an aggregate amount of Rs. 40.50 crores i.e. not exceeding 10% of total paid-up capital and free reserves as per audited balance sheet as at March 31, 2013.
The buy back shall be under the "open market" mechanism through the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited, at a price not exceeding Rs. 825/- per equity share of Rs. 10/- each and the aggregate consideration for buyback not exceeding Rs. 40.50 crores. The public announcement setting out the details of the Buy-back and other statutory details will be released in due course, inter-alia in newspapers, in accordance with the Buy-back Regulations. |
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