At meeting held on 23 May 2017
The Board of Directors of J B Chemicals & Pharmaceuticals at its meeting held on 23 May 2017 has approved the Buy-back of up to 12,50,000 fully paid up Equity Shares of face value of Rs. 2/- each by the Company (representing 1.47% of the total paid up Equity Share capital of the Company) at a price of Rs. 400/- (Rupees four hundred) per Equity Share payable in cash for a total consideration not exceeding Rs. 50/- crores (Rupees fifty crores only) (excluding transaction costs such as fees, brokerage, taxes, duties, etc), which is not exceeding 10% of the total paid-up Equity Share capital and free reserves (including securities premium account) as per the audited financial statement of the Company for the financial year ended on 31 March 2017, through the "Tender Offer" route as prescribed under the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 as amended, on a proportionate basis, from the Equity Shareholders/beneficial owners of the Equity Shares of the Company including promoters, members of promoter group and persons acting in concert, as on the record date.Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content