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| Exchange Disseminated Time 08/02/2017 15:32:18 | NHPC Ltd has submitted to BSE a copy of the Board Resolution passed by the board of directors of the Company at their meeting held on February 07, 2017.
"Resolved that pursuant to the provisions of Article 16A of the Articles of Association of the Company, as amended, and the provisions of Sections 68, 69, 70 and all other applicable provisions, if any, of the Companies Act, 2013 as amended (the "Companies Act"), and in accordance with the Companies (Share Capital and Debentures) Rules, 2014 (the "Share Capital Rules") to the extent applicable, and in compliance with the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, as amended (the "Buyback Regulations"), and any statutory modification(s) or re-enactment thereof, for the time being in force and, subject to such other approvals, permissions and sanctions of Securities and Exchange Board of India ("SEBI"), Registrar of Companies, National Capital Territory of Delhi and Haryana (the "ROC") and/ or other authorities, institutions or bodies (the "Appropriate Authorities"), as may be necessary and subject to such conditions and modifications as may be prescribed or imposed while granting such approvals, permissions and sanctions which may be agreed to by the Board of Directors of the Company (the "Board" which expression shall include any committee constituted by the Board to exercise its powers, including the powers conferred by this resolution), the Board hereby approves the buy back by the Company of its fully paid-up equity shares of Rs. 10/- each not exceeding 81,13,47,977 (Eighty One Crore Thirteen Lakh Forty Seven Thousand Nine Hundred Seventy Seven only) equity shares (representing 7.33%) of the total number of equity shares in the paid-up share capital of the Company at a price of Rs. 32.25/- (Rupees Thirty Two Rupees Twenty Five Raise only) per equity share (the "Buy Back Offer Price") payable in cash for an aggregate consideration not exceeding Rs. 26,16,59,72,258.25/- (Rupees Two Thousand Six Hundred Sixteen Crore Fifty Nine Lakh Seventy Two Thousand Two Hundred Fifty Eight and Twenty Five Paise 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")." |
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