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Last Updated : Jun 09, 2015 12:16 PM IST | Source: Moneycontrol.com

Clariant Chem up 3%, seeks shareholders' nod for buyback

Shares of Clariant Chemicals climbed more than 3 percent intraday Tuesday as the company has sought approval from its shareholders for share buyback.

 
 
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Moneycontrol Bureau


Shares of Clariant Chemicals climbed more than 3 percent intraday Tuesday as the company has sought approval from its shareholders for share buyback.


The Switzerland-based specialty chemicals manufacturing company has sent notice of postal ballot to its equity shareholders to consider the proposal of buy back, on a proportionate basis, up to 35,78,947 equity shares of the face value of Rs 10 each at the price of Rs 950 per share aggregating to Rs 340 crore which is less than 25 percent of the aggregate of equity share capital and free reserves.

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The buyback of 35.78 lakh shares is representing 13.42 percent of the total number of the equity share capital.


The company already received an approval for buyback of equity shares from its board members on April 22.


At 11:07 hours IST, the scrip of Clariant Chemicals India was quoting at Rs 835.50, up Rs 14.35, or 1.75 percent on the BSE.


Posted by Sunil Shankar Matkar



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First Published on Jun 9, 2015 12:16 pm
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