Nitin Fire Protection Industries’ Board of Director at its meeting held on August 13, 2013, has approved the proposal for Buy-back of equity shares of the Company, pursuant to the provisions of the Companies Act, 1956 and the SEBI (Buy-back of Securities) Regulations, 1998 as amended from time to time, not exceeding 10% of total paid-up capital and free reserves as per audited balance sheet as at March 31, 2013.
The buy-back shall be under the 'open market' mechanism through the Stock Exchanges i.e. Bombay Stock Exchange & National Stock Exchange of India, at a price not exceeding Rs. 66.60 per equity share of Rs 2 each and the aggregate buy-back not exceeding 10% of total paid-up capital and free reserves as per audited balance sheet as at March 31, 2013. The public announcement setting out the details of buy-back and other statutory details will be released in due course, inter-alia, in newspapers, in accordance with the Buy-back Regulations, subject to approval of regulatory authority, if any.
Nitin Fire Protection Industries is a leading fire protection, safety, securities and intelligent building management system, high pressure seamless cylinder and refueling systems company in India. It has been operational for the past two decades.
