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ICI India Ltd has informed BSE regarding the Public Announcement relating to buy back of shares by Company. The Company has informed that:

1. ICI India Ltd had announced in the PA that it would initially limit its buyback to a maximum of 30,95,000 shares, within the overall Buyback Size, such that its Promoter Imperial Chemical Industries of UK’s (ICI UK) holding in the Company remains below 55%.
2. Subsequently on June 05, 2007 ICI UK had applied to SEBI seeking exemption under Regulation 4(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.

3. SEBI, vide its order dated June 02, 2008 granted exemption upto the point where the Promoter shareholding in ICI India does not increase beyond 55.83% consequent to the buy-back offer of ICI India Ltd.

4. Consequent to SEBI’s order dated June 02, 2008 as aforesaid, the number of shares which ICI India can buyback under its current buyback scheme can go upto 36,57,126 shares.

5. Necessary amendment to the PA in this regard will be made, as and when the requirement arises.

Tags: ICI India

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