Posted on 6th Jun 2017
by Vijay Jain
May 24th 2017 - The Cheviot Company Limited board of directors has approved the proposal of buy back of 2 lakhs shares worth of 30 crore.
Buy back price of Cheviot Company Limited share has been finalized Rs 1500 per Share.
May 25th 2017 - The Equity Shareholders of the Company approved the Buyback offer.
May 26th 2017 - Company Officially announced the buyback offer.
Detail Article on Benefit from buyback offer >> Read
If you hold Cheviot Company Limited share around Rs-1350 where offer price is Rs-1500, you can get Rs 150 per accepted share. If you hold 145 share of Cheviot Company Limited and in proportionate acceptance is between 33% to 50%, in such case you are eligible to sell your 50 to 75 share with the gain from buy back can be Rs 7,500 to Rs 11,250.
Record Date for Cheviot Company Limited Buyback offer – June 16th 2017
To participate in Cheviot Company Limited buyback offer, record date is June 16th 2017. Which means you should hold the Cheviot Company Limited share in your demat account by closing session of June 16th 2017. Share purchased on and before June 14th 2017 will be available in your demat account by June 16th 2017.
Retail Investor can sell upto Rs 200,000 worth of shares.
Buyback opening date for Cheviot Company Limited Shares: August 21, 2017
Buyback closing date for Cheviot Company Limited Shares: September 04, 2017
This is the window when you need to submit your application for proposal for share buyback. If you are submitting tender forms or submitting physical share certificates, it must reach to registrar by September 06, 2017.
As this is a buyback tender offer, shares are accepted in proportionate basis. Proportionate acceptance / rejection will be returned back to the Eligible Shareholders directly by the Registrar – by September 12, 2017.
Money will be directly deposit in your registered bank account. Usually money will be deposited on and after September 13, 2017, which is last date of settlement of bids on the Stock Exchange.
In case of physical shares holding, you will get check.
Rejected share will be available in your demat account and ready for trading in open market. – by September 13, 2017.
For Buy back shares holders are divided in 2 categories:
Small Shareholders : Who holds Max Rs 2 Lacs worth of shares @ 1333 per equity share - in such case Max 150 Equity Shares as of July 16,2017.
As per record date 7066 Small Shareholders holding 3,76,787 Shares. 15% worth of stocks from Reserved Category are considered in buy back so 2,00,000 @15% is 30,000 shares out of 45,11,250 total shares.
Reserved Category - 1 Equity Shares out of every 12.56 Equity Shares held on the Record Date 9 out of 113
General Category shall consist of 3,76,787 Equity Shares.
General Category 1 Equity Shares out of every 24.34 Equity Shares held on the Record Date 9 out of 219
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