At meeting held on 30 May 2019
The Board of Vaibhav Global has approved the buyback its own fully paid-up equity shares of face value of Rs. 10/- each ("Equity Shares") from the equity shareholders of the Company (other than the Promoters, the Promoter Group and persons in control of the Company), being 14.85% of its paid-up share capital and free reserves as on 31 March, 2019 (on a standalone basis), for an amount, payable in cash, aggregating upto Rs. 72.00 crore (Rupees Seventy two crore only) ("Maximum Buyback Size"), which is less than 15% of the aggregate of the total paid-up share capital and free reserves of the Company, based on the latest audited financial statements of the Company as 31 March, 2019 (on a standalone basis), for a price not exceeding Rs. 1,000/- (Rupees One thousand only) per Equity Share ("Maximum Buyback Price"), by way of open market purchases through the Stock Exchanges, in accordance with the provisions of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 (as amended) ("Buyback Regulations") and the Companies Act, 2013 and the rules made thereunder ("Buyback").At the Maximum 'Buyback Price-and the Maximum Buyback Size, the indicative maximum number of Equity Shares bought back would be 7,20,000 Equity Shares ("Maximum Buyback Shares"), comprising approximately 2.20% of the paid-up capital of the Company as of 31 March, 2019 (on a standalone basis). If the Equity Shares are bought back at a price below the Maximum Buyback Price, the actual number of Equity Shares bought back could exceed the Maximum Buyback Shares, but will always be subject to the Maximum Buyback Size. The Company shall utilize at least 50% of the amount earmarked as the Maximum Buyback Size for the Buyback, i.e. Rs. 36.00 crore (Rupees Thirty six crore only) ("Minimum Buyback Size").
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