Geodesic approves the buyback of 25% of the Equity shares

Geodesic’s Board at its meeting held on January 30, 2009, has declared an interim dividend at the rate of 40% on fully paid up equity share capital consisting of 9,22,14,974 equity shares of Rs 2 each for the year 2008-09.

In the meeting the Board has also approved the proposal to buy back Company’s USD denominated Zero Coupon Convertible Bonds (FCCB Bonds), as per RBI guidelines under automatic route.

Apart from this the Board has also approved the proposal to buyback of 25% of the Equity shares of the Company through open offer through stock exchanges.