|Opening of Offer to Buy – Acquisition Window (Buyback) for Glance Finance 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. 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 Glance Finance Limited (the “Company”), has announced cash offer for a buyback of up to 7,50,000 (Seven Lakh Fifty Thousand) fully paid-up equity shares of the face value of Rs. 10/- (Rupees Ten only) each representing 24.95% of the outstanding equity shares of the Company as on March 31, 2018, from all the eligible shareholders/ beneficiary owners of equity shares of the Company as on the record date i.e. Friday, April 26, 2019 on a proportionate basis through the “Tender Offer’’ through stock exchange mechanism at a price of Rs. 50/- (Rupees Fifty only) per equity share for an aggregate amount of upto Rs. 3,75,00,000/- (Rupees Three Crore Seventy-Five Lakh only), from June 10, 2019 to June 21, 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
June 04, 2019