SASKEN COMMUNICATION TECHNOLOGIES LTD. - Board approves Buy-back of Equity Shares
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| 23 Apr 2015 | |
| Sasken Communication Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 23, 2015, have unanimously approved the proposal for Buy-back of approximately 41.57 lakhs fully paid Equity Shares of Rs.10/- from the existing shareholders In accordance with the provisions of Section 68 of the Companies Act, 2013 read with SEBI (Buy-back) Regulations, 1998 as amended, at a price of Rs. 260/-per share payable in cash upto an aggregate amount of Rs. 10,809 lakhs which is less than 25% of the aggregate of total paid capital and free reserves of the Company as per the audited accounts of the Company for the year ended on March 31, 2015.<BR><BR>The Company proposes to Buy-back through Tender Offer method on a proportionate basis.<BR><BR>The Buy-back will be implemented with the approval of shareholders of the Company by way of a special Resolution through Postal Ballot and e-voting, and all other applicable statutory approvals. | |
| View all announcements for SASKEN COMMUNICATION TECHNOLOGIES LTD. | Source: BSE India |
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