Bliss GVS Board recommends Bonus Issue
Recommended issue of Bonus Shares of 3 shares for every 5 shares held as on the Book Closure Date.
Multiplus Holdings Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on August 05, 2008, to consider & approve issue of Equity Shares on Rights basis to the existing Shareholders of the Company.
Gateway Distriparks - Buy Back Offer:
The Target Company hereby announces the buy-back of its fully paid-up equity shares of the face value of Rs 10/- each ("Equity Shares") from the existing owners of Equity Shares ("The Buy-back") from open market using the electronic trading facilities of the Bombay Stock Exchange Ltd ("BSE") and the National Stock Exchange of India Ltd ("NSE"), in accordance with the provisions of Sections 77A, 77AA, 77B of the Companies Act, 1956 ("the Act") and the Securities and Exchange Board of India (buy-back of Securities) Regulation, 1998 ("the Buy-back Regulations"), at a price not exceeding Rs 110 per Equity share ("Maximum Offer Price") payable in cash, for an aggregate amount not exceeding Rs 640 million ("Offer Size"). The Offer size represents 9.89% of the aggregate of the Company's total paid-up capital and free reserves as on March 31, 2008 (the date of the latest Standalone audited accounts).
The number of Equity Shares bought back would depend upon the average price paid for the Equity Shares bought back and the aggregate consideration paid for such equity Shares bought back, subject to the maximum limit of 10% of the total paid up share capital and free reserves of the Company, in accordance with the resolution passed by the Board of Directors of the Company on July 25, 2008. This is subject to a further limit of 25% of the total paid-up Equity Share Capital of the Company in a financial year as stipulated in the Act.
As per Section 77A of the companies Act, 1956 the number of Equity Shares that can be bought back in any financial year shall not exceed 25% of the total paid-up capital of the Company. Accordingly, the maximum number of Equity shares that can be bought back shall not be more than 28899187 equity shares being 25% of Paid up capital of 115,596,750 Equity Shares of Rs 10 each (as of March 31, 2008), subject to limit of amount that can be deployed for such Buy-back
Proposed Time Table:
Board Meeting approving Buy Back - July 25, 2008
Date of Opening of Buyback - August 04, 2008
Acceptance of Equity Shares - Within 15 days of the relevant payout dates of the Stock Exchanges.
Extinguishment of Equity Shares - Within 7 days of acceptance as above.
Last Date for the Buyback - January 24, 2009 (i.e. Six months from the date of resolution passed by the Board of Directors of the company at its meeting held on July 25, 2008). The Board in its absolute discretion may decide to close Buy-back of equity shares at such date as may be determined by the Board irrespective of whether the maximum limit of Buy-back has or has not been reached, by giving an appropriate notice for such date and completing all formalities in this regard as per relevant laws and regulations.
Areva T&D Board approves Sub-division of equity shares:
Areva T&D India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 29, 2008, inter alia, has approved the Sub-division of Equity Shares of Rs 10/- each into 5 Equity Shares of Rs 2/- each, subject to the approval of the Shareholders by the Postal Ballot.
The Company has appointed Mr. P V Subramanian, a Practicing Company Secretary, as Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
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