RANE BRAKE LINING LTD. - 532987 - Outcome Of Meeting Of The Board Of Directors Of Rane Brake Lining Limited ('Company') Held To Consider A Buyback Of Equity Shares By The Company
This is further to our intimation dated October 12, 2020 and in terms of Regulation 30 of the SEBI LODR, we wish to inform you that the Board of Directors of the Company at its meeting held today approved the following: 1. The buyback by the Company of its fully paid up equity shares having a face value of Rs. 10/- (Rupees Ten) each, fully paid-up, for an aggregate amount not exceeding Rs.22 Crores (Rupees Twenty Two Crores only) (the 'Maximum Buyback Size') at a price not exceeding Rs. 825 (Rupees Eight Hundred Twenty Five only) per Equity Share (the 'Maximum Buyback Price' and such Buyback the 'Buyback'). The Buyback shall be made from all shareholders of the Company (other than from the promoters and promoter group of the Company, as set out in paragraph 4 below). A detailed announcement in this regard is enclosed.15-10-2020