General Announcement::Intimation of proposed cash buyback in respect of Glenmark of its USD 200 million

Issuer & Securities

Issuer/ Manager
GLENMARK PHARMACEUTICALS LIMITED
Securities
GLENMARK PH US$200M4.5%210802 - XS1456577334 - 4N4B
GLENMARK PHARM US$170M2%220628 - XS1426780125 - 4G8B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
28-Sep-2018 13:05:15
Status
New
Announcement Sub Title
Intimation of proposed cash buyback in respect of Glenmark of its USD 200 million
Announcement Reference
SG180928OTHRYSG2
Submitted By (Co./ Ind. Name)
Glenmark Pharmaceuticals Limited
Designation
Company Secretary Compliance Officer
Effective Date and Time of the event
28/09/2018 10:12:00
Description (Please provide a detailed description of the event in the box below)
The Company had issued the FCC Bonds in 2016 which are currently listed on the Singapore Exchange Securities Trading Limited. Pursuant to our intimation letters dated 25 September 2018 and 28 September 2018, and the powers delegated to the Operations Committee by the Board of Directors of the Company, the Operations Committee in their meeting held today, approved that the Company is looking to buyback part of its FCC Bonds at repurchase price of 105% of the principal amount outstanding per FCC Bond up to an aggregate purchase price of U.S.$ 100 million plus accrued but unpaid interest. MUFG Securities Asia Limited and J. P. Morgan Securities Limited are appointed as dealer managers, on behalf of the Company to purchase such FCC Bonds. The Operations Committee meeting commenced at 09.45 a.m. and concluded at 10.10 a.m., and the Company has executed a dealer manager agreement in this respect.

We request you to take this on record, and to treat the same as compliance with the applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Attachments

OCM_28September2018_SGX.pdf
Total size =3196K