The Hindu Business Line : Mastek announces share buy back

Mastek Ltd has announced buy-back of fully paid-up equity shares of face value of Rs 5 each to the extent of 25 per cent of the total paid-up equity share capital (i.e. 28,464,181 equity shares of Rs.5 each) as on June 30, 2007. The price of the buy-back will not exceed Rs 750 per equity share and the aggregate consideration for the shares to be bought back (offer size) would not exceed Rs.65 crore.

The offer size would be an amount not exceeding 25 per cent of the share capital and free reserves (including share premium) based on the audited accounts as on June 30, 2007 from the existing shareholders and beneficial owners of the shares of the company from the open market through BSE and NSE. The date of opening of the buy-back is April 28 (subject to SEBI approval) and the last date for the buy-back is November 26 (i.e. 12 months from the date of the resolution passed by shareholders of the company through postal ballot).

The board in its absolute discretion may decide to close the buy-back of shares at such date as may be determined by the board irrespective of whether the maximum limit of buyback has or has not been reached, the company said in a communication to the NSE. - Our Bureau

More Stories on : Buyback | Software

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
J K Paper changes accounting year

Mastek announces share buy back

Sasken board okays buy back

HEC bags Rs 1,038 cr order

Fair award

More executives concerned over CEO’s pay packet: Survey

NIS Sparta, Inscape ink pact

Dabur Pharma selling 73.27% stake to Singapore firm

Dabur Pharma sale: Significant premium for investors

Hong Kong firm to invest $125 m in Jamnagar wind power plant

Ansal Properties signs pact with UEM Builders

Saimira arm, Sony group co in pact

Shipping Corporation likely to consider bonus issue

Kitti Steels plans to double capacity

Deccan promoters declassified