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Last Updated : Jan 10, 2013 03:13 PM IST | Source: Moneycontrol.com

GeeCee Ventures: Updates on closure of buyback offer

GeeCee Ventures commenced buyback offer on February 09, 2012 and it was completed on January 08, 2013. The total amount utilized in the buyback is Rs 7,18,42,041 representing 69.08 % of the maximum buyback Size. The total number of shares bought back were 16 lakh equity shares of face value of Rs 10 each.

 
 
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KJMC Corporate Advisors (India) Ltd (Formerly known as KJMC Global Market (India) Ltd ("Manager to the Buy Back Offer") on behalf of GeeCee Ventures Ltd ("Target Company") has informed this Post Offer Public Announcement ("Post PA") to the Shareholders/ beneficial owners of Equity shares of GeeCee Ventures Ltd ("Target Company") regarding completion of Buy-back offer is made pursuant to the provisions of and in compliance with the Regulation 19 (7) of the Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 and subsequent amendments thereof ("Buyback Regulations").A. The Buy back:Target Company had announced the Buyback of its fully paid up equity snares of Rs. 10/- each of the Company from the existing owners/ beneficial owners other than the Persons in Control of the Company from the Open Market through the Stock Exchanges using the electronic trading facilities of The BSE Ltd (“BSE") and The National Stock Exchange of India Limited ("NSE") pursuant to the provisions of Section 77A, 77AA and 77B of the Companies Act, 1956 and Buyback Regulations at a price not exceeding Rs. 65/- per share ("Maximum Buy-back Price") payable in cash for an aggregate amount not exceeding Rs. 1040.00 Lacs ("Maximum Buy-back Size") vide following public announcements.Public Notice ("PN") dated January 09,2012 published on January 10, 2012Corrigendum to PN dated January 23, 2012 published on January 24, 20121st Corrigendum to PA dated February 07, 2012 published on February 08, 20122nd Corrigendum to PA dated September 24, 2012 published on September 28, 2012 Closure Notice for the Buyback was given to BSE & NSE on January 08, 2013.B. Details of the Buy back:The Company commenced Buyback Offer on February 09, 2012and it was completed on January 08, 2013.The total amount utilized in the Buyback is Rs. 7,18,42,041/- (excluding Brokerage, STT, Service Tax, cess and stamp charges) representing 69.08 % of the Maximum Buy-back Size.The total number of shares bought back were 16,00,000 (Sixteen Lac) equity shares of face value of Rs. 10/- each. The Company has extinguished 15,66,164 equity shares till date and is in the process of extinguishing of the remaining 33,836 Equity Shares bought back.The price at which the equity shares were bought back was dependent on the price quoted on the BSE and NSE. The highest price at which the equity shares were bought back was Rs. 49.00/- per equity share while the lowest price was Rs. 41.50/- per equity share. The equity shares ware bought back at an average price of Rs. 44.90/- per share.As the buy back was done via the "Open Market through Stock Exchanges, the identity of shareholders from whom equity shares exceeding one percent of the total equity shares bought in the buyback is not known.C. Capital Structure: The capital structure of the Company, pre and post Buy-back, is as under:Authorised Capital : 5,00,00,000 Equity shares of Rs. 10/- each Pre- Buyback (Amount In Rs.) : 50,00,00,000Post- Buyback (Amount In Rs.) : 50,00,00,000Issued, Subscribed and Paid-up Capital - Pre Buy Back : 2,06,26,543 Equity shares of Rs. 10/-each Pre- Buyback (Amount In Rs.) : 20,62,65,430Post- Buyback (Amount In Rs.) : - Issued, Subscribed and Paid-up Capital : Post Buy Back: 1,90,26,543 Equity shares of Rs. 10/-eachPre- Buyback (Amount In Rs.) : -Post- Buyback (Amount In Rs.) : 19,02,65,430Source : BSE

Read all announcements in GeeCee Ventures



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First Published on Jan 10, 2013 03:13 pm
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