ZEN Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 22, 2013, keeping in view of the current satisfactory operations of the Company and to maximize returns to investors and enhance overall shareholder value by returning surplus funds to shareholders in an investor-friendly manner and as an efficient mechanism for providing an exit opportunity to those shareholders who desire to do so, in a manner that does not substantially impact the market price of the Companys shares to the detriment of the continuing shareholders and expecting the Buyback also to enhance the earnings per share of the Company in future and create long-term shareholder value has approved Buy back of the Companys fully paid-up equity shares of Rs. 10/- each from open market through the Stock Exchange mechanism for an amount not exceeding Rs. 10.00 Crores (Rupees Ten Crores only) at prevailing market price on the Stock Exchange subject to a price not exceeding Rs. 90/- per equity share and subject to a maximum of 16,00,000 equity shares and minimum of 4,00,000 equity shares, in accordance with the provisions contained in the Articles of Association, Section 77A, 77AA, 77B and other applicable provisions of the Companies Act, 1956 and the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations 1998 including any statutory modifications and amendments from time to time for the time being in force.
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