|Opening of Offer to Buy – Acquisition Window (Buyback) for HEG 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 HEG Limited (the “Company”), has announced Cash Offer to Buyback up to 13,63,636 (Thirteen Lakh Sixty Three Thousand Six Hundred and Thirty Six) fully paid-up equity shares of face value Re. 10/- each, representing approximately 3.41% of the total number of equity shares in the issued, subscribed and paid-up equity share capital of the Company as at September 30, 2018, from the shareholders / beneficial owners of equity shares of the company as on the record date i.e. February 9, 2019 on a proportionate basis, through the “Tender Offer” route at a price of Rs. 5,500/- (Rupees Five Thousand Five Hundred only) per equity share for an aggregate amount not exceeding Rs. 750,00,00,000/- (Rupees Seven Hundred and Fifty Crore only) from March 8, 2019 to March 22, 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 20190207-23 dated 07 Feb 2019 the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
March 05, 2019