Softsol India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 30, 2009, inter alia, has approved the following:
1. Annual General Meeting of the Company for the year 2009 will be held on September 30, 2009.
2. Buyback of the fully paid-up Equity Shares of Rs 10/- each of the Company from Open Market through Stock Exchange Mechanism for an amount not exceeding Rs 7,00,00,000/- (Rupees Seven crores only) to a minimum of 10,00,000 equity shares and a maximum of 14,00,000 equity shares up to a maximum price of Rs 55/- (Rupees Fifty Five only) per share in accordance with the provisions of the Articles of Association of the Company, Section 77A, 77AA, 77B and other applicable provisions of the Companies Act, 1956, SEBI (Buyback of Securities) Regulations, 1998 and other applicable regulations, if any.
The above decision was taken to enhance overall shareholder value by returning the surplus funds to shareholders in an investor friendly manner and to enhance the earnings per share of the Company in the future and create long-term shareholder value.
Source: Bseindia.com