SEEMS A GOOD BUY CMP 49
Provogue (India) - Closure of Buy back
16/02/10 15:28
JM Financial Consultants Pvt Ltd ("Manager to the BuyBack") on behalf of Provogue India Ltd ("Target Company" or "Company") has issued this Announcement to the Shareholders/ Beneficial Owners of Equity Shares of the Target Company, which is in continuation of & should be read in conjunction with the resolution passed by the Board of Directors ("Board Resolution") dated August 14, 2009 published a Public Notice cum Public Announcement ("PN cum PA") dated August 14, 2009 in accordance with the Buy-back Regulations on August 17, 2009.
This PA is regarding completion of Buy-back offer in Compliance with Regulation 19(7) of Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 as amended ("the Buy-back Regulations").
A. The Buyback:
1. The Company had announced the Buy-back of fully paid Equity Shares of the face value of Rs 2/- each not exceeding 50,00,000 Equity Shares ("Maximum Offer Shares") from the existing owners of Equity Shares other than Persons in Control at a price not exceeding of Rs 100/- per share ("Maximum Offer Price") payable in cash for an aggregate amount not exceeding Rs 50 crores ("Maximum Offer Size"). The minimum number of the Equity Shares that the Company intended to buyback was 20,00,000 Equity Shares ("Minimum Offer Shares").
2. The Buy-back was effected through the methodology of "Open Market purchase through stock exchanges" using the electronic trading facilities of Bombay Stock Exchange ("BSE") & National Stock Exchange ("NSE").
3. The Buy-back Offer was open from August 14, 2009 to February 12, 2010. No orders were placed after February 05, 2010, as announced in the PN cum PA.
B. Details of the Buyback:
1. The total number of Equity Shares bought back under the Buy-back is 20,49,610 Equity Shares and all the shares have been extinguished.
2. The total amount invested in the Buy-back is Rs. 123,939,436 representing 24.79% of the Maximum Offer Size.
3. The price at which the Equity Shares were bought back was dependent on the price quoted on the BSE & NSE. The highest price at which the Shares were bought back was Rs. 69.50/- per share while the lowest price was Rs 53.70/- per Share. The Shares were bought back at an average price of Rs. 60.47/- per Share.
4. As the settlement takes place through a clearing house, the identity of the seller in case of shares bought back in the demat segment is not known. Since all Equity Shares were bought in demat segment from the Stock Exchanges, details of shareholders, if any, who have sold shares exceeding 1% of the total Equity Shares bought back are not available.
PROVOGUE (INDIA) LTD.
Scrip Code : 532647 Quarter ending : December 2009
Shareholding belonging to the category "Public" and holding more than 1% of the Total No.of Shares
Sl. No. Name of the Shareholder No. of Shares Shares as % of Total No. of Shares
1 Genesis Indian Investment Company Ltd 2,082,860 1.81
2 New Vernon India Ltd 4,315,763 3.76
3 Direct Investments Ltd 4,500,000 3.92
4 Nailsfield Ltd 6,000,000 5.23
5 Acacia Partners LP 2,243,375 1.95
6 Rathi Global Finance Limited 1,867,225 1.63
7 Rajesh R Narang 2,324,160 2.02
8 Sandeep G Raheja 2,249,600 1.96
9 Sandeep G Raheja 2,240,000 1.95
10 Rakesh Jhunjhunwala 1,900,000 1.65
11 T Row Price International Inc A/c T Rowe 5,056,299 4.40
12 Fairprice Traders (India) Pvt Ltd 1,525,195 1.33
13 Bennett Coleman & Company Ltd 1,993,074 1.74
14 Money Matters India Pvt Ltd 1,587,055 1.38
Total 39,884,606 34.74
sure to go up
nina
