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| Exchange Disseminated Time | Agro Tech Foods Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 24, 2013, have unanimously approved the proposal for buy back through tender offer method of approximately 1,000,000 fully paid Equity Shares of Rs. 10/- each from the shareholders at a price of Rs. 520.00/- per share payable in cash upto an aggregate amount of Rs. 520,000,000.00/- which is less than 25% of the aggregate of total paid capital and free reserves of the Company as per the audited accounts of the Company for the year ended on March 31, 2012.
The Company proposes to Buyback through Tender Offer method on a proportionate basis.
The Buy Back will be implemented with the approval of shareholders of the Company by way of a special Resolution through Postal Ballot and all other applicable statutory approvals. |
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