MUMBAI, India, Nov. 3, 2020 /PRNewswire/ — Majesco Limited, an Indian listed company (the “Company“) (CIN: L72300MH2013PLC244874), hereby announces that the Company’s Board of Directors, in its meeting held on October 8, 2020, and shareholders, in the extra-ordinary general meeting held on November 2, 2020, have approved the buy back of up to 7,470,540 fully paid-up Equity Shares at a price of Rs. 845 per Equity Share on a proportionate basis through a tender offer (the “Buyback“). The Company’s public announcement relating to the Buyback (“PA“) was published on November 3, 2020 in India in an English national daily newspaper, a Hindi national daily newspaper, and a regional language (Marathi) daily newspaper, all with wide circulation at the place where the Company’s registered office is located. The PA has also been made available on the websites of the Company, National Stock Exchange of India Limited (“NSE“), BSE Limited (“BSE“), and is also expected to be available on the website of the Securities and Exchange Board of India (“SEBI“). The Company has also filed a draft letter of offer dated November 3, 2020 with SEBI for their comments. Detailed information about the Buyback will be available in the letter of offer which will be dispatched along with the tender form to all shareholders of the Company as of November 13, 2020. The letter of offer will also be available on the same websites where the PA is available, as well as those of the manager to the buyback (Kotak Mahindra Capital Company Limited) and registrar to the Buyback (KFin Technologies Pvt. Ltd.).
Statement Regarding Buyback
The anticipated Buyback discussed in this press release has not yet commenced. This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any of the Company’s Equity Shares. The solicitation and offer to buy the Company’s Equity Shares will only be made pursuant to the letter of offer, tender form and related materials that the Company will make available to its shareholders. Shareholders should read those materials and the documents incorporated therein by reference carefully when they become available because they will contain important information, including the various terms and conditions of the Buyback.
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