Others

Post Buy back Offer

| Updated on October 12, 2012 Published on October 12, 2012

Anand Rathi Advisors Ltd ("Manager to the Buyback") on behalf of Borosil Glass Works Ltd ("Target Company") has informed this Post Buy back Public Announcement regarding completion of Buy back offer to the Equity Shareholders / Beneficial Owners of equity shares of the Target Company, in compliance with Regulation 19(7) of the Securities & Exchange Board of India (Buy Back of Securities) Regulations, 1998 and subsequent amendments thereof.

A. The Buy back

1. The Company had announced the buyback ("Buy Back") of its fully paid-up equity shares of the face value of Rs. 10/- each ("Equity Shares") from the existing owners of Equity Shares of the Company, other than the Promoters of the Company from the open market through stock exchanges using the electronic trading facilities of BSE Ltd ("BSE") in accordance with the provisions of Sections 77A, 77AA, 77B and other applicable provisions, if any, of the Companies Act, 1956 ("Act") and the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 ("Regulations") and the relevant provisions of Memorandum of Association and Articles of Association of the Company at a maximum price not exceeding Rs. 850/- per Equity Share ("Maximum Buy Back Price") payable in cash, for an amount not exceeding Rs. 8193.39 lacs ("Maximum Buy Back Size"). The Public Announcement ("PA") dated November 17, 2011 was published on November 17, 2011 and corrigendum to the PA was published on December 15, 2011. A notice of closure was issued on October 10, 2012 to BSE.

2. The Buy Back commenced on December 19, 2011 and closed on October 10, 2012. Upon closure of Buy Back, the Company has utilized 99.87% of Maximum Buy Back Size authorized for the buyback.

3. The total number of Equity Shares bought back under the Buy Back is 957,928 Equity Shares.

B. Details of the Buy back:

1. The total amount utilized in the Buy Back of Equity Shares is approximately Rs. 8182.53 Lacs.

2. The price at which the Shares were bought back during the Buy Back offer was dependent on the prevailing quoted market price on BSE. The highest price at which the Equity Shares were bought back was Rs. 850/- per Equity Share while the lowest price was Rs. 800/- per Equity Share. The average price at which the Shares were bought back is Rs. 849.32 per Equity Share (excluding brokerage and other charges).

3. Since the Buy Back was done only through order matching mechanism from the Open Market through BSE, the identity of shareholders from whom Shares exceeding one percent of the total Shares were bought back is not known to the Company.

4. As on the date of this Public Announcement 957,928 Equity Shares were bought back and physically destroyed / extinguished.

C. Capital Structure:

1. The capital structure of the Company, pre and post Buy Back, is as under:

Authorised Capital:

Pre Buy Back - 12,000,000 Equity shares of Rs. 10/- each

Post Buy Back - 12,000,000 Equity shares of Rs. 10/- each

Issued, Subscribed and Paid-up Capital:

Pre Buy Back - 3,963,928 equity shares of Rs. 10/- each fully paid-up

Post Buy Back - 3,006,000 equity shares of Rs. 10/- each fully paid-up

Source : BSE - >www.bseindia.com

Published on October 12, 2012
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