Apollo Finvest Board approves buy back of equity shares

Apollo Finvest India Ltd has announced that the Board of Directors of the Company at its meeting held on July 25, 2007, inter alia, has considered and approved the following:

1. Approved the buy-back of upto 9,25,000 equity shares of Rs 10/- each at a price of Rs 15/- per share in accordance with the provisions of the Companies Act, 1956 and Securities and Exchange Board of India (Buy Back of Securities) Regulations 1998.

2. Approval of the Notice to be issued for obtaining the consent of the members by means of postal ballot for the proposed buy-back as aforesaid as required pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules 2001.

Source : Equity Bulls

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