Bosch Ltd has informed that the Board of Directors of the Company at its meeting held on September 02, 2008 :
1. The Board in terms of Section 77A of the Companies Act, 1956 (Act) and the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 (Regulations), and subject to such other approvals as may be necessary, approved and recommended to the shareholders, proposal to buyback such number of equity shares of the company from existing shareholders from open market through the Stock Exchange, to be financed out of the free reserves of the Company, at such price(s) as may be determined from time to time by the Committee of the Board of Directors constituted for the purpose but not exceeding Rs 4500/- (Rupees Four Thousand Five Hundred only) per equity share as approved / authorized by the Company such that the aggregate consideration for the shares bought back do not exceed 25% of the capital and free reserves of the Company as at December 31, 2007.
2. The Board also Constituted a Committee of Directors arid authorized the said Committee to do all that the Board is authorized to do in the matter or buyback of shares and such matters as specifically delegated by the Board including to decide from time to time the price at which the buyback to be undertaken within the limits approved / authorized by the Company in this regard, appoint and finalize the terms thereof for the intermediaries including Brokers, Merchant Bankers, Scrutinizers, Registrar, Bankers etc., to issue Notice to Shareholders as well as to take all necessary steps prior to and post the passing of necessary Resolution by the shareholders and as required under the Act, Regulation etc. and all such steps / actions etc as may be necessary to give effect to the decision as above.
3. The Board further authorized the Company Secretary to issue Notice to the members for passing of the resolution through Postal Ballot in terms of Section 192A of the Companies Act, 1956 read with the Companies (Passing of Resolution by Postal Ballot) Rules, 2001 to approve the buy-back.
1. The Board in terms of Section 77A of the Companies Act, 1956 (Act) and the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 (Regulations), and subject to such other approvals as may be necessary, approved and recommended to the shareholders, proposal to buyback such number of equity shares of the company from existing shareholders from open market through the Stock Exchange, to be financed out of the free reserves of the Company, at such price(s) as may be determined from time to time by the Committee of the Board of Directors constituted for the purpose but not exceeding Rs 4500/- (Rupees Four Thousand Five Hundred only) per equity share as approved / authorized by the Company such that the aggregate consideration for the shares bought back do not exceed 25% of the capital and free reserves of the Company as at December 31, 2007.
2. The Board also Constituted a Committee of Directors arid authorized the said Committee to do all that the Board is authorized to do in the matter or buyback of shares and such matters as specifically delegated by the Board including to decide from time to time the price at which the buyback to be undertaken within the limits approved / authorized by the Company in this regard, appoint and finalize the terms thereof for the intermediaries including Brokers, Merchant Bankers, Scrutinizers, Registrar, Bankers etc., to issue Notice to Shareholders as well as to take all necessary steps prior to and post the passing of necessary Resolution by the shareholders and as required under the Act, Regulation etc. and all such steps / actions etc as may be necessary to give effect to the decision as above.
3. The Board further authorized the Company Secretary to issue Notice to the members for passing of the resolution through Postal Ballot in terms of Section 192A of the Companies Act, 1956 read with the Companies (Passing of Resolution by Postal Ballot) Rules, 2001 to approve the buy-back.
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