KAMA Holdings Ltd announces buyback of shares through tender offer

The Board of Directors of KAMA Holdings Limited at its meeting held today i.e; Monday, December 12, 2022 (the "Board Meeting") has, approved the Buyback of fully paid up Equity Shares of face value of INR 10 (Ten only) each not exceeding 34,500 (thirty four thousand five hundred only) Equity Shares (representing 0.53% of the total paidup equity share capital of the Company as on the date of Board Meeting) at a price of INR 14,500 (fourteen thousand five hundred only) per Equity Share payable in cash for an aggregate amount not exceeding INR 50,02,50,000 (Fifty Crores two lakhs and fifty thousand only), excluding tax payable under Income Tax Act, 1961 and any expenses incurred or to be incurred for the buyback viz. brokerage costs, fees, turnover charges, taxes such as buyback tax, securities transaction tax and goods and services tax (if any), stamp duty, advisors fees, filing fees, printing and dispatch expenses and other incidental and related expenses and charges ("Transaction Costs") (such maximum amount hereinafter referred to as the "Buyback Offer Size") which represents 9.93% and 1.05% of the aggregate of the fully paid-up Equity Share capital and free reserves as per the audited condensed standalone interim financial statements of the Company as on September 30, 2022 and audited condensed consolidated interim financial statements of the Company as on September 30, 2022, respectively, not exceeding 10% of the aggregate of the fully paid-up Equity Share capital and free reserves as per the audited condensed standalone interim financial statements of the Company as on September 30, 2022 and audited condensed consolidated interim financial statements of the Company as on September 30, 2022, on a proportionate basis from the shareholders of the Company, through the "Tender Offer" route using mechanism for acquisition of shares through stock exchange as prescribed under Securities and Exchange Board of India (Buy Back of Securities) Regulations, 2018, as amended (the "Buyback Regulations") and the Companies Act, 2013 and rules made thereunder (the "Act").

ABR Family Trust acting through its Trustee Mr. Kartik Bharat Ram, promoter of the Company has indicated their intention to participate in the proposed Buyback.

▪ The Board has constituted a 'Buyback Committee' and delegated to/ authorized the Buyback Committee of the Board of Directors to do all such acts, deeds, matters and things as it may at its absolute discretion, deem necessary, expedient, usual or proper in connection with the Buyback.

Shares of Kama Holdings Limited was last trading in BSE at Rs. 13788.05 as compared to the previous close of Rs. 13642.45. The total number of shares traded during the day was 1362 in over 348 trades.

The stock hit an intraday high of Rs. 13899.95 and intraday low of 13500.20. The net turnover during the day was Rs. 18759542.00.

Source : Equity Bulls

Keywords

KamaHoldings INE411F01010 BuyBack TenderOffer