In a notice to the Bombay Stock Exchange (BSE), the company said at a meeting of board of directors held on October 1, 2003, the directors considered and approved the making of a non-binding bid by the company or through any of its subsidiary and/or associate companies for the acquisition of a hotel property in the US, subject to a due diligence process.
In a notice to the BSE, Punjab Communications said at its annual general meeting held on September 26, 2003, the shareholders has approved the buy-back up to 40,26,355 fully paid equity shares of the Company of the face value of Rs 10 each at a price not exceeding Rs 96.05 per share.
It has also decided to list its equity shares from Ludhiana, Jaipur, Delhi, Chennai and Ahmedabad Stock Exchanges.
