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Aptech Ltd Announces Buy Back Offer

Tuesday, 9 Jul 2013 02:52am EDT 

Aptech Ltd announced that HDFC Bank Ltd (Manager to the Buyback) on behalf of Aptech Ltd (Target Company) has informed this Public Announcement (PA) to the Equity Shareholders / Beneficial Owners of the equity shares of the Target Company, pursuant to Regulation 15(c) and Regulation 15(d) read with Regulation 8(1) and in compliance with other applicable provisions of the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, as amended (Buy-back Regulations) and contains disclosures as specified in Schedule II to these Buy-back Regulations. The Target Company hereby announces intention to buy-back fully paid-up equity shares of face value INR10 each (Equity Shares) from the existing shareholders/beneficial owners, other than the promoters/ persons who are in control of the Company, from the open market through stock exchanges pursuant to Article 57 of the Articles of Association of the Company and in accordance with Sections 77A, 77AA and 77B and all other applicable provisions, if any of the Companies Act, 1956 (Act) and the Buy-back Regulations. The Company intends to buy-back Equity Shares at a price not exceeding INR82 per Equity Share payable in cash (the Maximum Offer Price), for an aggregate amount up to but not exceeding INR646,560,816 (the Maximum Offer Size) which is 24.99 % of the Company‚Äôs total paid-up capital and free reserves as on March 31, 2013 (the date of the last audited accounts, which have been approved by the Board). 

Company Quote

-4.2 -4.31%
5:58am EDT