| Opening of Offer to Buy – Acquisition Window (Buyback) for Frontline Securities Limited |
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 Frontline Securities Limited (the “Company”), has announced cash offer to buy back upto 12,77,866 (Twelve Lakhs Seventy Seven Thousand Eight Hundred Sixty Six Only) fully paid-up equity shares of face value of Rs.10/- each (“Equity Shares” or “shares”), at a price of Rs. 62/- (Rupees Sixty Two Only) per equity share (“Buy Back Price”) payable in cash for an aggregate amount of Rs.7,92,27,692/- (Rupees Seven Crores Ninety Two Lakhs Twenty Seven Thousand Six Hundred Ninety Two Only)(“Buy Back Size”) which represents 24.99% of the aggregate of company’s share capital and free reserves as on March 31, 2017, through the tender offer route, on a proportionate basis (“Buy Back Offer” or “Offer” or “Buy Back”), the maximum number of equity shares constitutes 17.78% of issued, subscribed and paid up equity share capital of the company, from January 18, 2018 to February 01, 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 – www.bseindia.com.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
January 12, 2018
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