Mastek buyback at max price of Rs 750, CMP 364

BSE Announcements on Mastek

Mastek Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 11, 2007, has approved the buyback of the Companys equity shares at a price not exceeding Rs 750 per share, upto an aggregate amount of Rs 65 crores, being within 25% of the total paid-up capital and free reserves as per the audited Balance Sheet as at June 30, 2007, subject to the approval of the shareholders through postal ballot. The Company proposes to buy back shares through open market purchases from time to time.