GSK to Buy Back Shares at Rs. 800 Per Share

March 30, 2005

GSK Pharmaceuticals Ltd will be buying back 25 percent of equity from its shareholders at Rs. 800 per share, stated the company's chairman Deepak Parekh at its 80th annual general meeting held on Wednesday in Mumbai. "The buy back will be at a premium of 8 per cent based on the closing price of the GSK share on March 7, 2005. After getting the shareholders approval by way of a postal ballot, which will be declared on April 29, the buy back of the shares will be completed by the second week of May," said Parekh.

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