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NIIT Considering Buyback of Equity Shares of the Company

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Skills and talent development firm NIIT Ltd on Friday said its board will meet on August 10 to consider a proposal for buyback of equity shares of the company.

“…a meeting of the Board of Directors of the company is scheduled to be held on August 10, 2019 to…consider proposal for buyback of equity shares of the company, as recommended by the Special Committee,” NIIT Ltd said in a regulatory filing.

The special committee was constituted by the board on May 25 to make recommendation for utilisation of proceeds received in May from divestment of the company’s holding in NIIT Technologies.

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The company intends to reward shareholders “in the most efficient and judicious manner”, it added.

The company’s board will also consider and approve the financial results for the quarter ended June 30, 2019 on August 10. PTI SR MBI

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Vardaan
Founding editor at IndianWeb2, he's been writing at IndianWeb2 since 2007. Apart from blogging he had a professional career of software developer, Ux developer and search engine marketer in past. His vision of IndianWeb2 has been laid down so as to showcase, encourage and propagate Indian startups, innovation and entrepreneurship ideas.

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