Valiant Communications Ltd has informed that the Board of Directors of the Company at its meeting held on September 08, 2008, inter alia, has approved a buy-back of its outstanding equity shares with the following terms:
1. Total consideration amount of Buyback: Not exceeding Rs 314.20 lacs, the amount represents 10% of the paid-up equity share capital of the Company, and its free reserves.
2. Buyback price per equity share: Not exceeding Rs 32/- (Rs Thirty Two only).
3. Mode of Buy Back: Open market through Stock Exchange in India where Companys equity shares are listed.
4. Necessity for the Buy Back: The Company considers it necessary and expedient to Buy Back its own fully paid equity shares to enhance the earnings per share and Return on Equity (%) and create long term shareholders value. The Buy Back will also provide a reasonable exit opportunity to those shareholders who so desire whilst safeguarding the interest of continuing shareholders of the Company. The Buy Back is also expected to enhance the long-term price performance and the market capitalization of the Company
1. Total consideration amount of Buyback: Not exceeding Rs 314.20 lacs, the amount represents 10% of the paid-up equity share capital of the Company, and its free reserves.
2. Buyback price per equity share: Not exceeding Rs 32/- (Rs Thirty Two only).
3. Mode of Buy Back: Open market through Stock Exchange in India where Companys equity shares are listed.
4. Necessity for the Buy Back: The Company considers it necessary and expedient to Buy Back its own fully paid equity shares to enhance the earnings per share and Return on Equity (%) and create long term shareholders value. The Buy Back will also provide a reasonable exit opportunity to those shareholders who so desire whilst safeguarding the interest of continuing shareholders of the Company. The Buy Back is also expected to enhance the long-term price performance and the market capitalization of the Company
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