| Opening of Offer to Buy – Acquisition Window (Buyback) for Frontline Securities 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 Frontline Securities Limited (the “Company”), has announced cash offer to Buyback upto 18,90,027 (Eighteen Lakhs Ninety Thousand Twenty-Seven only) fully paid-up equity shares of face value of Rs. 5/- (Rupees Five only) each (“Equity Shares”), representing 15.94% of the issued, subscribed and paid-up equity share capital of the Frontline Securities Limited (the "Company") as on March 31, 2018 (“Buyback”). The Buyback will be undertaken on a proportionate basis, from the Eligible Shareholders holding Equity Shares as on May 24, 2019 (“Record Date”), by way of a Tender Offer through the stock exchange mechanism, for cash at a price of Rs. 40/- (Rupees Forty Only) (“Buyback Price”) per Equity Share for an aggregate amount of upto Rs. 7,56,01,080 (Rupees Seven Crores Fifty-Six Lakhs One Thousand and Eighty only) (“Buyback Size”) representing 24.99% of the Paid-up share Capital and Free Reserves of the Company as per the Audited Accounts for the Financial Year ended March 31, 2018., from June 17, 2019 to June 28, 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: June 13,2019
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