NIIT Technologies has informed that Board of Directors at their meeting held on December 23, 2019 have approved the following that: Subject to approval of the shareholders by means of a special resolution through postal ballot and regulatory approval(s) as may be required, buy-back of up to 19,56,290 fully paid equity shares of a face value of Rs 10 each at a price of up to Rs 1,725 per share aggregating up to Rs 337,46,00,250 which represents 20.23% of the paid up equity share capital and free reserves of the Company. The Buyback is proposed to be made from the shareholders of the Company as on the Record Date on a proportionate basis under the Tender Offer route through Stock Exchange mechanism in accordance with the provisions of the SEBI (Buyback of Securities) Regulations, 2018. The pre-Buyback shareholding pattern along with the details prescribed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD/4/20 15 dated September 9, 2015 is enclosed as Annexure - A to this letter. The Board Meeting concluded at 21:40 hrs.
The above information is a part of company’s filings submitted to BSE.
