The board of directors of Eye Television Network Limited has decided to buy-back 4.8 million ordinary shares of Rs 10 each from the existing shareholders at a price of Rs 47 per ordinary share, aggregating to Rs 225.60 million subject to the approval of the shareholders.
The company's board also decided that an extraordinary meeting will be held on September 29, 2008 in Karachi subject to the approval of Registrar of Securities and Exchange Commission of Pakistan.
It was further resolved that two persons, including Ms Sultana Siddiqui, Chairperson of the board and Duraid Qureshi CEO, are authorised to appoint the banks for collection of application forms and payments to the shareholders opting to sell their shares to the company. It was also resolved that the CEO and the company secretary are empowered to file the documents/decision to the SECP, Registrar of Companies and Stock Exchange.
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