Glenmark Pharmaceuticals has informed that the Company had issued the FCC Bonds in 2016 which are currently listed on the Singapore Exchange Securities Trading. Pursuant to the intimation letters dated 25 September 2018 and 28 September 2018, and the powers delegated to the Operations Committee by the Board of Directors of the Company, the Operations Committee in their meeting held today, approved that the Company is looking to buyback part of its FCC Bonds at repurchase price of 105% of the principal amount outstanding per FCC Bond up to an aggregate purchase price of $ 100 million plus accrued but unpaid interest. MUFG Securities Asia and J. P. Morgan Securities are appointed as dealer managers, on behalf of the Company to purchase such FCC Bonds. The Operations Committee meeting commenced at 09.45 am and concluded at 10.10 am, and the Company has executed a dealer manager agreement in this respect.
The above information is a part of company’s filings submitted to BSE.
