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 De-listing, 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, and 20190207-23 dated 07 Feb 2019 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 Savita Oil Technologies Limited (the “Company”), has announced offer to buy back up to 2,51,000 (Two Lakh Fifty-One Thousand) fully paid-up equity shares of face value of Rs. 10 (Rupees Ten Only) each (“Equity Shares”), representing upto about 1.75% of the total number of Equity Shares of the Company, from all the equity shareholders/beneficial owners of the Company who hold Equity Shares as on the Record Date i.e. Wednesday, June 12, 2019 (“Record Date”) on a proportionate basis, through the tender offer using stock exchange mechanism (“Tender Offer”), at a price of Rs.1605/- (Rupees One Thousand Six Hundred and Five Only) (including premium of Rs.1595/-) per Equity Share (“Buyback Price”) for an aggregate maximum amount of upto Rs. 40,28,55,000/- (Rupees Forty Crores Twenty-Eight Lakhs Fifty-Five Thousand Only) (“Buyback Size”), from July 16, 2019 to July 29, 2019.
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
July 12, 2019
|