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 Takeover, 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, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020, 20201102-43 dated Nov 02, 2020 and 20210825-62 dated Aug 25,2021 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 Gulf Oil Lubricants India Ltd (“The Company”) has announced cash offer to buyback up to 14,16,667 (Fourteen Lacs Sixteen Thousand Six Hundred And Sixty Seven Equity Shares Only) fully paid-up equity shares of face value Rs.2/- each (“Equity Shares”) (“Buyback”), representing 2.8% of the total paid-up equity share capital of Gulf Oil Lubricants India Limited (the “company”), from all the equity shareholders/ beneficial owners of the fully paid equity shares of the company as on the record date i.e. Monday, February 21, 2022 (“record date”), on a proportionate basis, through the “tender offer” route, at a price of Rs.600/- (Rupees Six Hundred Only) per equity share (the “buyback price”) for an aggregate amount not exceeding Rs.85,00,00,200/- (Rupees Eighty - Five Crores And Two Hundred Only) (The “Buyback Size”), from March 25, 2022 to April 07, 2022.
Letter of Offer is herewith attached for perusal.
Market participants are further requested to note that this offer will be as per the SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Atul Dhotre
Senior Manager
Listing Sales & Ops
March 15, 2022 |