| Opening of Offer to Buy – Acquisition Window (Buyback) for Premier Chennai Properties 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 cash offer to buy back up to 15,000 (Fifteen Thousand) fully paid-up equity shares of face value Rs. 10/- each (“equity shares”), representing 6.71% of the total number of equity shares in the issued, subscribed and paid-up equity share capital of the Company, as at march 31, 2017, from all the existing shareholders/ beneficial owners of the equity shares of the Company as on the Record Date i.e. Thursday, July 27, 2017 (“Record Date”), on a proportionate basis, through the “Tender Offer” route, at a price of Rs. 10,000/- (Rupees Ten Thousand Only) per equity share for an aggregate amount of up to Rs. 15,00,00,000/- (Rupees Fifteen Crores Only) (the “Buy-Back size”) from September 04, 2017 to September 15, 2017.
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
September 01, 2017
|