Carol Info - Buy Back Offer

HSBC Securities & Capital Markets India Pvt Ltd ("Manager to the Offer") on behalf of Carol Info Services Ltd (Target Company), has issued this Public Announcement ("PA"), pursuant to the provisions of Regulations 8(1) read with Regulation 15(c) of the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, as amended and contains disclosure as specified in Schedule II to these Regulations.

The Target Company hereby announces the buy back ("Buyback") of its fully paid up equity shares of the face value of Rs 10 each ("Equity Shares") from its existing shareholders through the open market using the facilities of the Bombay Stock Exchange Ltd ("BSE") and the National Stock Exchange of India Ltd ("NSE"), pursuant to Article 3C of the Articles of Association of the Company and in accordance with Section 77A, 77AA & 77B of the Companies Act, 1956 ("Act") and Securities & Exchange Board of India (Buy Back of Securities) Regulations, 1998 ("Regulations") and other applicable provisions of the Act and the Regulations, at a price not exceeding Rs 40/- per equity share ("Maximum Offer Price"), payable in cash, for a total consideration not exceeding Rs 21.20 crores ("Buy Back Size"). The Buy Back size represents approximately 6.60% of the aggregate of the Company's paid up equity capital & free reserves as on March 31, 2006.

Given the total consideration to not exceed Rs 21.20 crores, the number of Equity Shares to be bought back would depend upon the average price paid for the Equity Shares to be bought back.

Proposed Time Table:

Date of Opening of the Buy-back - September 19, 2006

Last Date for the Buy-back - June 26, 2007 or earlier as may be decided by the Board.

Source : Equity Bulls

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