Saffron Capital Advisors Private Ltd. ("Manager to the Buyback Offer") has submitted to BSE a copy of Draft Letter of Offer for the the attention of Equity Shareholders / Beneficial Owners of Equity Shares of Kanchi Karpooram Ltd ("Target Company").
Further to our filings with regard to Buy-Back of equity shares of the Company approved by the Board at its meeting held on November 19, 2020, please find enclosed copies of newspaper advertisements containing the public announcement. The same has been made available on the Company's website www.kklgroup.in
Saffron Capital Advisors Private Ltd. ("Manager to the Buyback Offer") has submitted to BSE a copy of Public Announcement for the the attention of Equity Shareholders / Beneficial Owners of Equity Shares of Kanchi Karpooram Ltd ("the Company") for the Buyback of Equity Shares through Tender Offer.
Further to our filings with regard to Buy-Back of equity shares of the Company approved by the Board at its meeting held on November 19, 2020, please find enclosed Board Resolution pursuant to Regulation 5 (vii) of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018. Kindly request to take the above on record and acknowledge.
1.The Board has approved the buyback of upto 2,20,000 Equity Shares of the Company (Equity Shares) of the face value of Rs. 10 each constituting 5.17% of the fully paid-up Equity Share capital of the Company at a price of Rs. 405 per Equity Share aggregating to Rs. 8,91,00,000 representing 9.79% of the fully paid-up Equity Share capital and free reserves through the "Tender Offer" route on a proportionate basis from the shareholders as on the record date (defined below in point 2).2.In compliance with regulation 42(2) of the LODR Regulations, fixed Friday, 04th December, 2020 as the Record Date for the Buyback Offer;3.The Board noted that none of the promoters are participating in the proposed Buyback Offer;4.Constituted a 'Buyback Committee' comprising of Mr. Venkateswaran, Ind. Director, Mr. Srinivasan, Ind. Director and Mr. Dipesh S Jain, MD. 5.Appointed Saffron Capital Advisors Private Limited, a SEBI registered Category I Merchant Banker as 'Sole Manager' to the Buyback Offer.
In terms of Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the copy of Newspaper Advertisement published on 16th November, 2020 in Trinity Mirror (English) and Makkal Kural (Tamil) in connection with the Un- Audited financial results of the Company for the quarter/half year ended 30th September 2020.
Kanchi Karpooram Ltd has informed BSE that the meeting of Board of Directors of the Company will be held on November 19, 2020, inter alia, to transact the following business:1. To consider the proposal for buyback of equity shares of the Company, quantum & mode of buyback, constitution of buyback committee, appointment of intermediaries and other matters incidental thereto;2. To fix Record Date for the purpose of Buyback.