Board of Transpek Industry approves buyback of shares

At meeting held on 12 August 2016

Transpek Industry announced that the Board of Directors of the Company at its meeting held on 12 August 2016, have approved the following:

1. Buy-back of its fully paid-up equity shares of face value of Rs. 10/- (Rupees ten only) each (Equity Shares') at a price not exceeding Rs. 475/- per share 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 Limited for a maximum amount of Rs. 13.50 crore (Rupees Thirteen Crores Fifty Lakhs only) (excluding transaction cost, brokerage and taxes, if any), which is less than 15% of the paid up capital and free reserves of the Company as on March 31, 2016 and the maximum number of Equity Shares proposed to be purchased under Buy-Back shall not exceed 3,25,000 Equity Shares, subject to the shareholders' approval by way of a special resolution through postal ballot (including e-voting) in accordance with Section 68 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 SEBI (Buy-Back of Securities) Regulations, 1998.

2. Appointment of Vivro Financial Services as Manager to the proposed Buy- Back Offer.

3. The postal ballot notice pursuant to Section 110 of the Companies Act, 2013 read with Rule 22 of the Companies (Management and Administration) Rules, 2014, for seeking approval of Shareholders of the company for the Buy-back Offer.

4. In this regard the cut-off date for ascertaining the list of shareholders/members to whom the notice of postal ballot will be sent and also for reckoning voting rights will be 26 August 2016.

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