- On February 26, 2018,11:33 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 Savita Oil Technologies Limited (“Company”) has made Cash offer for buyback of fully Paid-up Equity Shares of the Company up to 2,80,000 (Two Lakh Eighty Thousand) fully paid- up Equity Shares of the Company of face value of Rs.10/- each (“Equity Shares”) representing up to 1.92% of the total number of Equity Shares, from all the equity shareholders/beneficial owners of the Company who hold Equity Shares as on the record date i.e. Friday, February 09, 2018 (“Record Date”), on a proportionate basis, through the tender offer using stock exchange mechanism (“Tender Offer”), at a price of Rs.1605/- (Rupees One Thousand Six Hundred and Five Only) (including premium of Rs.1595/-) per Equity Share (“Buyback Price”) for an aggregate maximum amount of up to Rs.44,94,00,000/- (Rupees Forty Four Crore Ninety Four Lakh Only) (“Buyback Size”) ,from March 01, 2018 to March 15, 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