LKP Finance board approves buy-back of shares

LKP Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 29, 2012, inter alia, has approved to Buyback the Company's full paid up equity shares of Rs. 10/- each from open market through Stock Exchange route, upto an aggregate amount not exceeding Rs. 14,40,00,000. (Rupees Fourteen Crore Forty Lac Only) [excluding brokerage costs, SEBI Turnover charges, taxes such as Securities Transaction tax, service tax and relevant stamp duty] in accordance with the provisions contained in the Articles of Association, Section 77A, 77AAA, 77B and other applicable provisions of the Companies Act 1956 and the provisions contained in the SEBI (Buy Back of Securities) Regulations, 1998 including any statutory modifications and amendments from time to time for the time being in force (“Buyback Regulations’), The above stated aggregate amount will not exceed 10% of the paid-up capital and free reserves of the Company as per the Audited Annual Accounts of the Company for the financial year ended March 31, 2012. The Buy-Back shall be at a price not exceeding Rs. 80/- per share. (“Maximum Buy Back Price”),Source : BSE

Read all announcements in LKP Finance