Provogue India Board approves Buy Back of Equity Shares
Provogue India Ltd has informed that the Board of Directors of the Company at its meeting held on August 14, 2009 has approved the proposal of buyback of the Companys fully paid up Equity Shares of Rs 2/- each from the existing owners of shares from open market through Stock Exchanges in accordance with the provisions of Section 77A, 77AA and 77B of the Companies Act, 1956 and the SEBI (Buy-back of Securities) Regulations, 1998. The Board has approved the proposal of the buyback at a price not exceeding Rs 100/- per share payable in cash for an aggregate amount not exceeding Rs 50 Crore. The maximum offer shares under the offer is 50,00,000 equity shares and minimum offer shares will be 20,00,000 equity shares. The buy-back can remain open for the period upto February 12, 2010 or such earlier date as may be determined by the Board.
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