Board Meeting on Jan 28, 2011 | 20/01/11 18:02
Compact Disc India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on January 28, 2011, inter alia, to consider the following matters:
1. To consider and approve unaudited financial results of the Company for the quarter ended December 31, 2010.
2. To consider and approve the delisting of the securities of the Company from Bombay Stock Exchange and other stock exchanges where the securities of the company are listed.
3. To consider and convene the Extra Ordinary General Meeting of the members of the Company.
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My Analysis:
If the "Delisting of the shares is approved by the board on 28th, as per SEBI rules, they will have to give a Buy Back offer as an Exit opportunity for the shareholders.
The price of the buy back offer is decided by the book building process, where the floor price is the past 26 week average. Now, for Compact Discs India Ltd, the 26 week average is around Rs 60. So hold on to shares till they reach 60.
Happy Investing!!
Compact Disc India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on January 28, 2011, inter alia, to consider the following matters:
1. To consider and approve unaudited financial results of the Company for the quarter ended December 31, 2010.
2. To consider and approve the delisting of the securities of the Company from Bombay Stock Exchange and other stock exchanges where the securities of the company are listed.
3. To consider and convene the Extra Ordinary General Meeting of the members of the Company.
-----------------------------------------------------------------------------------------------------
My Analysis:
If the "Delisting of the shares is approved by the board on 28th, as per SEBI rules, they will have to give a Buy Back offer as an Exit opportunity for the shareholders.
The price of the buy back offer is decided by the book building process, where the floor price is the past 26 week average. Now, for Compact Discs India Ltd, the 26 week average is around Rs 60. So hold on to shares till they reach 60.
Happy Investing!!
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