|Opening of Offer to Buy – Acquisition Window (Buyback) for Freshtrop Fruits 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 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 Freshtrop Fruits Limited (the ‘’Company”), has announced a Cash offer to buyback up to 10,00,000 (Ten Lacs only) fully paid-up equity shares of face value of Rs. 10/- each, (“Equity Shares”), representing 8.23% of the total paid up equity share capital, from all the fully paid-up Equity Shareholders/ Beneficial Owners of the Equity Shares of the Company as on the Record Date, i.e. October 11, 2019, on a proportionate basis, through the “Tender Offer” route, at a price of Rs. 110/- (Rupees One Hundred and Ten Only) per Equity Share (“Buyback Price”) for an aggregate amount of upto Rs. 11,00,00,000/- (Rupees Eleven Crores Only) (the “Maximum Buyback Size”), from November 21, 2019 to December 04, 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.
Additional General Manager
Listing Sales & Ops