|
| Exchange Disseminated Time 31/01/2017 17:58:36 | NLC India Ltd has informed BSE that the Board of Directors of the Company in their meeting held on January 31, 2017 has unanimously inter-alia:
- Approved the proposal to buyback of not exceeding 15,06,06,061 (Fifteen Crore Six Lakh Six Thousand and Sixty One) equity shares (representing 8.98% of the total number of equity shares in the paid-up share capital of the Company) at a price of Rs. 99/- (Rupees Ninety Nine only) per equity share (the “Buy Back Offer Price") payable in cash for an aggregate consideration not exceeding Rs. 14,91,00,00,100/- (Rupees One Thousand Four Hundred Ninety One Crore and One Hundred only) (the “Buyback Offer Size”) which is not exceeding 10% of the aggregate of the fully paid-up equity share capital and free reserves as per the audited accounts of the Company for the financial year ended March 31, 2016 from the equity shareholders of the Company, as on the record date, on a proportionate basis, through the Tender Offer route as prescribed under the Buyback Regulations (hereinafter referred to as the "Buyback"), subject to all other applicable statutory approvals.
The Board of Directors noted the intention of the Promoter of the Company to participate in the proposed Buyback. |
|
|