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| Exchange Disseminated Time 21/07/2018 08:24:12 | Just Dial Ltd has informed BSE that the meeting of the Board of Directors of the Company was held on July 20, 2018, inter alia, transacted the following businesses:
- Approved the proposal to Buy-back (the "Buy-back") of up to 27,50,000 (Twenty Seven Lakhs Fifty Thousand Equity Shares), for an aggregate amount not exceeding Rs. 220,00,00,000 (Rupees Two Hundred and Twenty Crores Only) (the "Maximum Buyback Size"), at a price not exceeding Rs. 800 per Equity Share (the "Maximum Buyback Price"). The Buyback is proposed to be made from the existing Shareholders of the Company on a proportionate basis under the tender offer route in accordance with the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 (the "Buyback Regulations") and the Companies Act, 2013 and rules made thereunder. The Maximum Buyback Size represents 24.26% of the total Paid-up Equity Share Capital and Free Reserves based on the standalone audited financial statements of the Company as on March 31, 2018, which is in compliance with the maximum permissible limit of 25% of the Paid-up Equity Share Capital and Free Reserves in accordance with Section 68(2) of the Companies Act, 2013.
permissible limit of 25% of the Paid-up Equity Share Capital and Free Reserves in accordance with Section 68(2) of the Companies Act, 201 3. The Maximum Buyback Size does not include any expenses incurred or to be incurred for the Buy-back like filing fees, advisory fees, public announcement publication expenses, printing and dispatch expenses, taxes and other incidental and related expenses. |
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