- On February 7, 2018,7:25 am
Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017, has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.
All Market Participants are hereby informed that Orbit Exports Limited (“Company”), has made Cash Offer to Buy-back up to 4,44,444 (Four Lakhs Forty Four Thousand Four Hundred and Forty Four) fully paid-up equity shares of the Company of face value of Rs 10/- each (“Equity Share(s)”) from the Equity Shareholders / beneficial owners of the Equity Shares of the Company as on the Record Date i.e., Friday, January 19, 2018 (“Record Date”), on a proportionate basis, through the Tender Offer Route using stock exchange mechanism (“Tender Offer”), at a price of Rs 180/- (Rupees One Hundred and Eighty Only) per Equity Share (“Buy-back Price”) for an aggregate amount not exceeding Rs 7,99,99,920/- (Rupees Seven Crores Ninety Nine Lakhs Ninety Nine Thousand Nine Hundred and Twenty only) (“Buy-back Size”) from February 09, 2018 to February 26, 2018.
Market participants are further requested to note that this offer will be as per the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017 and the details of this Offer to Buy would be available on BSE Website – Read More