| Announcement: | Transwarranty Capital Pvt Ltd ("Manager to the BuyBack") on behalf of Maestros Mediline Systems Ltd ("Target Company") has issued this Public Announcement to the Equity Shareholders / Beneficial Owners of the Equity Shares of the Target Company, which is in continuation of and should be read in conjunction with the Public Announcement ("PA") dated November 07, 2008.
This PA is regarding completion of Buy-back offer in compliance with Regulations 19(7) of the Securities & Exchange Board of India (Buy-Back of Securities) Regulations, 1998 as amended ("Buy-back Regulations")
A. The Buyback:
The Target Company had pursuant to the resolution passed by the Board of Directors ("Board Resolution") dated October 27, 2008 published a public notice dated October 28, 2008 & PA dated November 07, 2008 in pursuant to the buyback ("Buyback") of fully paid up equity shares ("Shares") of Rs. 10 each of the Company, from existing owners / beneficial owners of shares from the open market through stock exchanges using electronic trading facilities of Bombay Stock Exchange Limited ("BSE") in accordance with Section 77A, 77AA and 77B of the Companies Act, 1956 and SEBI (Buyback of Securities) Regulations 1998 at a maximum price of Rs. 75/- per share payable in cash for an aggregate amount not exceeding Rs. 32.56 millions.
2. The Buyback was effected through the methodology by "Open Market purchase through stock exchanges" using the electronic trading facilities of Bombay Stock Exchange ("BSE").
3. The Buy-back offer was open from November 18, 2008 to October 26, 2009.
B. Details of the Buyback:
1. The total number of shares bought back under the Buyback is 176,680 Equity Shares.
2. The total amount invested in the Buyback is Rs. 78,57,717.81 representing 24.13% of the Maximum Offer Size.
3. The price at which the shares were bought back was dependent on the price quoted on the BSE. The highest price at which the Shares were bought back was Rs. 55.90/- per share while the lowest price was Rs. 39.70/- per share. The Shares were bought back at an average price of Rs. 44.47/- per share.
4. The shares were bought in the demat segment from the Stock Exchange. Pursuant to the Buy-back, the Company has bought back less than 1% (one percent) of the total number of outstanding Equity Shares. Therefore the requirement for disclosure of the identity of the shareholders or beneficial holders of Equity Shares from whom Equity Shares exceeding 1% (one percent) of the total number of outstanding Equity Shares were bought back is not applicable.
C. Capital Structure:
The Capital structure of the Company, pre and post Buyback, is as under:
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Share Capital Pre-BuyBack Post Buyback
(as on October 27, 2008) (as on October 26, 2009)
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Authorised Capital Rs. 55,000,000 Rs. 55,000,000
(55,00,000 Equity Shares (55,00,000 Equity Shares
of Rs 10/- each) of Rs 10/- each)
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Issued, Subscribed and Rs. 45,499,400 (4,549,940 Rs 43,732,600
paid-up capital Equity Shares of Rs 10/- (4,373,260 Equity Shares
each fully paid up, of which of Rs 10/- each)
4,500,000 shares of Rs 10/-
each have been issued for
consideration other than cash.)
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(For more details kindly refer Corporate Announcements on www.bseindia.com). |
