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| Exchange Disseminated Time 10/08/2016 15:16:47 | Mayur Uniquoters Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 10, 2016, inter alia, have considered and approved the following:
1. Declared First Interim Dividend of Rs. 0.25/- (i.e. 5 %) per Equity Share of Rs. 5/- each of the Company for the Financial Year 2016-17. The said dividend will be paid on or after August 30, 2016.
2. Mr B. L. Bajaj, Independent Director of the Company has resigned from the Directorship of the Company w.e.f. August 10, 2016.
3. Mr. Hemant Koushik , Internal Auditor of the Company has resigned from the employment of Company.
4. A proposal to Buy-back up to 5,00,000 fully paid up Equity Shares (Five Lacs) of the Company for an aggregate amount not exceeding Rs. 25,00,00,000/- (Rupees Twenty Five Crores only) (hereinafter referred to as the "Buyback Size") being 1.08% of the total paid up equity share capital, at Rs. 500 (Rupees Five Hundred only) per Equity Share (hereinafter "Buyback Price"). The buyback is proposed to be made from all existing shareholders of the Company on the Record Date, on a proportionate basis under the tender offer route in accordance with the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 ("Buyback Regulations") and the Companies Act, 2013 and rules made thereunder. The Buyback Size does not include any expenses incurred or to be incurred for the buyback like filing fees payable to the Securities and Exchange Board of India, advisors fees, public announcement publication expenses, printing and dispatch expenses, and other incidental and related expenses.
Members of the Promoter and Promoter Group of the Company have indicated their intention to participate in the proposed buyback.
The public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the Buyback Regulations. The Company has formed a Buyback Committee to do all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary, expedient, usual or proper in connection with the proposed buyback.
In this regard, the pre Buyback shareholding pattern as on June 30, 2016 is enclosed as Annexure A.
The Meeting commenced at 11.00 a.m and concluded on 2.20 p.m on August 10, 2016. |
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