Securities Capital to buy back shares at a maximum price of Rs.40

Securities Capital Investments India Ltd has announced that the Board of Directors of the Company at its meeting held on September 25, 2006, inter alia, has taken the following decisions:

1. To Initiate and complete the process of postal ballot in order to obtain the sanction of the share-holders to buy back 7,26,739 shares, on a proportionate basis, at a maximum price of Rs 40 per share.

2. The Board authorized the Company’s managing director and executive director to issue the Public announcement for and on behalf of the Company, file a draft Letter of offer with SEBI and do all other acts and deeds related to the matter.

Source : Equity Bulls

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