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Board approves Buy Back of Equity Shares

| Updated on August 13, 2013 Published on August 13, 2013

Nitin Fire Protection Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 13, 2013, inter-alia, approved the proposal for Buy-back of equity shares of the Company, pursuant to the provisions of the Companies Act, 1956 and the SEBI (Buy-back of Securities) Regulations, 1998 as amended from time to time, not exceeding 10% of total paid-up capital and free reserves as per audited balance sheet as at March 31, 2013.

The buy-back shall be under the "open market" mechanism through the Stock Exchanges i.e. Bombay Stock Exchange Limited & National Stock Exchange of India Limited, at a price not exceeding Rs. 66.60 per equity share of Rs. 2/- each and the aggregate buy-back not exceeding 10% of total paid-up capital and free reserves as per audited balance sheet as at March 31, 2013. The public announcement setting out the details of buy-back and other statutory details will be released in due course, inter-alia, in newspapers, in accordance with the Buy-back Regulations, subject to approval of regulatory authority(ies), if any.

Source : BSE - >www.bseindia.com

Published on August 13, 2013
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