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Exchange Disseminated Time | Saffron Capital Advisors Pvt Ltd ("Manager to the Buy back Offer") on behalf of Sandesh Ltd ("Target Company") has informed this Post Buy back Public Announcement to the Equity shareholders / beneficial owners of Equity Shares of the Target Company.
This Announcement is being published pursuant to Regulation 19 (7) of the SEBI (Buy-Back of Securities) Regulations, 1998, as amended in connection with the offer by the Target Company for buyback ("the Buyback") of 9,60,000 fully paid-up Equity Shares of face value Rs. 10 each ("Shares" or "Equity Shares") from the existing shareholders / beneficial owners of Equity Shares of the Target Company, on a proportionate basis, through the tender offer process, in accordance with the provisions contained in Article 19A of the Articles of Association of the Company, Sections 77A, 77AA, 77B and all other applicable provisions, if any, of the Companies Act, 1956 (“the Act") and the provisions contained in the Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 as amended from time to time ("the Buyback Regulations") subject to approval/s as may be necessary, from statutory authorities including but not limited to Securities and Exchange Board of India ("SEBI"), Stock Exchanges, Reserve Bank of India (the "RBI"), etc. at a price of Rs. 302 per Equity Share ("Buyback Price") payable in cash, for an aggregate maximum amount of Rs. 2899.20 Lacs (Rupees Twenty Eight Crores Ninety Nine Lacs Twenty Thousand only) ("the Buyback Size"). The Buyback Size represents 8.72% of the aggregate of Company's paid-up Equity Share capital and Free Reserves as on March 31, 2012 which stands at Rs. 33,252.32 Lacs.
This has reference to the Public Announcement dated January 16, 2013 (the "PA") and the Letter of Offer dated February 18, 2013 (the "LOF") in connection with the Buyback.
The Buyback offer was open from February 26, 2013 to March 11, 2013.
The Company has completed buyback process and has accepted a total of 9,60,000Shares at a price of Rs. 302/- per share. There were no applications made by NRI shareholders. |
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