Board of Excel Industries approves buyback of shares upto Rs 18 crore

At meeting held on 28 March 2016

Excel Industries announced that the Board of Directors of the Company at its meeting held on 28 March 2016, in accordance with the provisions of Sections 68, 69 and 70 and all other applicable provisions of the Companies Act, 2013 and in terms of Article 22 of the Articles of Association of the Company read together with Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 and amendments thereto, have approved the buy-back of its fully paid-up equity shares of face value of Rs. 5/- (Rupees Five only) each at a price not exceeding Rs. 275/- per equity shares for a maximum amount of Rs. 18 crore (Rupees Eighteen Crore only) (excluding brokerage, Transactional charges and taxes, if any) subject to maximum of 11,50,000 equity shares from the existing equity shareholders/ beneficial owners, other than the promoters/ persons who are in control of the Company, from the open market purchases through BSE and National Stock Exchange of India using their nationwide Electronic Trading terminals.

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