VRL Logistics Board of Administrators Approve Purchase-Back of Equity Shares of the Corporate
The Board of administrators of VRL Logistics Ltd in its board assembly held on November 7, 2017, authorized the purchase-back plan of fairness shares of the corporate.
The Board has approved buyback by the corporate of its absolutely paid-up equity stocks having a face price of Rs 10 each for an combination quantity no longer exceeding Rs forty one,40,00,000 or rupees 41 crores 40 lakhs most effective. the mixture amount of buy-back does no longer exceed 25% of the whole paid-up equity share capital and free reserves as per audited steadiness sheet on March 31, 2017.
The maximum purchase-back size is 7.65% of the full paid-up share capital and free reserves of the company based on the audited financial statements of the corporate as at March 31, 2017.
The utmost buy-again worth won't exceed Rs 460 per equity stock. the utmost collection of equity shares offered again could be 9 lakh shares which is 0.99% of the total choice of paid-up fairness shares of the company.
The corporate will make the most of at the least 50% of the amount earmarked as the maximum buy-back measurement for the purchase-again i.e Rs 20.70 Cr simplest. based on the minimal purchase-back size and the maximum purchase-again value, the corporate will purchase a minimum of four,50,000 or four lakhs 50,000 equity stocks within the buy-again.
The corporate will enforce the purchase-again during the methodology of “open market purchases via stock exchanges” and as per approaches prescribed in the companies Act and the purchase-back laws.
The purchase-again of its equity shares will lend a hand the corporate to succeed in optimization of capital structure and adorning overall shareholders price.
The stock is buying and selling at a price of Rs 377.45, up by way of Re 1 or 0.25% on NSE at 9.31 am.
The Board has approved buyback by the corporate of its absolutely paid-up equity stocks having a face price of Rs 10 each for an combination quantity no longer exceeding Rs forty one,40,00,000 or rupees 41 crores 40 lakhs most effective. the mixture amount of buy-back does no longer exceed 25% of the whole paid-up equity share capital and free reserves as per audited steadiness sheet on March 31, 2017.
The maximum purchase-back size is 7.65% of the full paid-up share capital and free reserves of the company based on the audited financial statements of the corporate as at March 31, 2017.
The utmost buy-again worth won't exceed Rs 460 per equity stock. the utmost collection of equity shares offered again could be 9 lakh shares which is 0.99% of the total choice of paid-up fairness shares of the company.
The corporate will make the most of at the least 50% of the amount earmarked as the maximum buy-back measurement for the purchase-again i.e Rs 20.70 Cr simplest. based on the minimal purchase-back size and the maximum purchase-again value, the corporate will purchase a minimum of four,50,000 or four lakhs 50,000 equity stocks within the buy-again.
The corporate will enforce the purchase-again during the methodology of “open market purchases via stock exchanges” and as per approaches prescribed in the companies Act and the purchase-back laws.
The purchase-again of its equity shares will lend a hand the corporate to succeed in optimization of capital structure and adorning overall shareholders price.
The stock is buying and selling at a price of Rs 377.45, up by way of Re 1 or 0.25% on NSE at 9.31 am.
Wealth It Global provides you Trading tip calls about the Indian stock markets with intense analysis done by our Team of Analysts. We have been providing valuable Tips to our clients through various methods. We have helped lot of retail and HNI client through our tips services to fulfil their financial goals by making their money work for them a better way. We try to follow the trend and ride it using technical analysis rather than predicting customer's needs.
Comments
Post a Comment