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Business EconomyPosted at: Apr 26 2022 6:16PM


Sinclairs Hotels announces buyback at Rs 143 per share

Kolkata, April 26 (UNI) The Board of Directors of Sinclairs Hotels Limited on Tuesday approved buyback of up to seven Lakh fully paid-up equity shares of face value of Rs 2 each by the Company at a price of Rs 143 per equity share payable in cash.
The Buyback will be on proportionate basis through the Tender Offer process, the company said in a media release.
The total pay-out towards the buyback would be Rupees Ten Crore One Lakh excluding company’s expenses for the buyback like TDS, filing fees payable to SEBI, advisors/legal fees, public announcement publication expenses, printing and dispatch expenses and other incidental and related expenses.
Also excluded ars transaction costs such as brokerage, securities transaction tax, goods and service tax (GST), stamp duty.
The buyback represents 2.51 per cent of the total number of equity shares of the company and
9.93 per cent of the paid-up share capital and free reserves of the company as per the audited
financial statements for the financial year ended on March 31.
The record date for determining the eligibility of shareholders holding the shares in their
own name has been fixed as May 13.
UNI SSP ARN
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