| Opening of Offer to Buy – Acquisition Window (Buyback) for Metroglobal 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. 20190424-35 dated April 24, 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 Metroglobal Limited (the “Company”), has announced cash offer to Buyback of up to 40,00,000 (Forty Lakhs) fully paid-up equity shares of the Company of face value Rs 10/- (“Equity Share(s)”) from all the shareholders holding Equity Shares/ beneficial owners of Equity Shares of the Company, as on the Record Date i.e., Friday, April 12, 2019 (“Record Date”), on a proportionate basis, through the Tender Offer route using stock exchange mechanism (“Tender Offer”), at a price of Rs. 56 (Rupees Fifty-Six Only) per Equity Share (“Buy-back Price”) for an aggregate amount not exceeding Rs. 22,40,00,000 (Rupees Twenty-Two Crores Forty Lakhs Only) (“Buy-back Size”) excluding cost such as fees, brokerage, securities transaction tax, goods and services tax, stamp duty etc. (“Transaction Costs”) as per the audited financial statements of the Company for the year ended on March 31, 2018 (“Buy-back Offer” / “Buy-back) from May 14, 2019 to May 27, 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 20190424-35 dated April 24, 2019 along with the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
May 10, 2019
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