Board of Dhanuka Agritech approves buyback of share upto Rs 80 crore

Finalises buyback price at Rs 850

Dhanuka Agritech announced that the Buyback Committee of Board of Directors of the Company at its meeting held on 03 January 2017, inter alia, have determined the Final Buyback Price of Rs. 850 (the Buyback Price) and the final amount for Buyback to be Rs. 80 crore (the Buyback Size) excluding the transaction costs viz. brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty etc.

With the Buyback price of Rs. 850 and Buyback Size of Rs. 80 crore the total number of shares to be bought back in the Buyback shall be 9,41,176 Equity Shares, representing about 1.88% of the total issued and paid-up equity capital of the Company as on 31 March 2016.

The aforesaid terms of Buyback are within the maximum limits approved by the Board of Directors at its Board Meeting held on 10 November 2016, and as approved by shareholders by Special Resolution, through Postal Ballot, results of which were announced on 02 January 2017.

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