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Route Mobile to consider share buyback, stock soars 11%

The company also informed that the firm's trading window will remain closed from June 23, 2022 till further intimation is submitted to the stock exchanges.

June 23, 2022 / 03:33 PM IST
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Route Mobile, an enterprise communications service provider, surged more than 11 percent to  Rs 1,193.50 apiece on the BSE, after the company said its board will meet on June 28 to consider buyback of shares.

“Pursuant to Regulation 29(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that, a meeting of the Board of Directors of the Company is schedule to be held on Tuesday, June 28, 2022, inter alia, to consider a proposal for buyback of fully paid up equity shares of the Company, in accordance with the applicable provision under the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 (as amended), and other applicable laws," said the company in an exchange filing. 

The company also informed that the firm's trading window will remain closed from June 23, 2022 till further intimation is submitted to the stock exchanges. 

"In terms of Company's Code of Conduct ('Code of Conduct') for Prevention of Insider Trading, the trading window of the Company shall remain closed from June 23, 2022 till further intimation is submitted to the Stock Exchanges," the company statement read.
Moneycontrol News
first published: Jun 23, 2022 03:33 pm
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