At meeting held on 06 January 2017
Apar Industries announced that the Board of Directors of the Company at its meeting held on 06 January 2017 has approved the Buyback up to 4,50,000 fully paid-up equity shares of face value of Rs. 10/- (Rupees Ten Only) each of the Company (Equity Shares) representing up to 1.17% of the outstanding equity shares of the Company at a price of Rs. 660 per Equity Share (Buyback Price) (including premium of Rs. 650/- per Equity Share) payable in cash for an aggregate amount of up to Rs. 29.70 crore (excluding Company's transaction costs viz. brokerage, securities transaction tax, service tax, stamp duty, etc.) ("Buyback Size"), which is 4.09% of the fully paid-up equity share capital and free reserves (including securities premium) as per the latest standalone audited balance sheet of the Company for the financial year ended 31 March 2016, on a proportionate basis through the "tender offer" as prescribed under the Buyback Regulations, to all of the shareholders/beneficiary owners who hold Equity Shares as of a Record Date (as defined below) ("Buyback").Powered by Capital Market - Live News
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