| Opening of Offer to Buy – Acquisition Window (Buyback) for Zenith Fibres 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, 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 Zenith Fibres Limited (the “Company”), has announced cash offer to buyback up to 5,50,000 (Five Lakh Fifty Thousand) fully paid-up Equity shares of face value of Rs. 10/- each, at a price of Rs. 55/- (Rupees Fifty-Five only) per share for an aggregate maximum amount of up to Rs. 3,02,50,000 (Rupees Three Crores Two Lacs Fifty Thousand only) which represents 6.39% of the aggregate of Company’s paid-up Equity Share Capital and Free Reserves as on March 31, 2018, through the Tender Offer process, on a proportionate basis from May 16, 2019 to May 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
Date: May 10,2019
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