Stalwart Advisors

Buy-Back of Shares

The board of directors of Smartlink Network Systems have approved a buy-back of 74.55 lac shares at a maximum price of Rs 110 implying a total buy-back amount of Rs 82 Cr.
Since promoters already hold 74.5% and maximum promoter holding allowed as per regulations is 75%, they too would participate in this buyback offer.
The Buyback would be subject to approval of the shareholders by way of a Special Resolution through Postal Ballot (e-voting). The public announcement setting out the process, timelines and other statutory details will be released in due course.
Given the cash holding of Rs 365 Cr. lying unused on the balance sheet, we believe it is a good capital allocation move.
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