CERA Sanitaryware Buyback 2024 vs Mayur Uniquoters Buyback 2024

The Buyback is being undertaken for the following reasons:

1. The Buyback will help the Company to return surplus cash to its shareholders holding Equity Shares, thereby, enhancing the overall return to shareholders;
2. The Buyback, which is being implemented through the tender offer route as prescribed under the Buyback Regulations, would involve the allocation of the number of Equity Shares as per their entitlement or 15% of the number of Equity Shares to be bought back whichever is higher, reserved for the small shareholders. The Company believes that this reservation for small shareholders would benefit a large number of public shareholders, who would get classified as “small shareholders” as per Regulation 2(i) (n) of the Buyback Regulations;
3. The Buyback may help in improving its return on equity, by a reduction in the equity base, thereby leading to a long-term increase in shareholders’ value; and
4. The Buyback gives an option to the Eligible Shareholders to either (a) participate in the Buyback and receive cash in lieu of their Equity Shares which are accepted under the Buyback, or (b) not to participate in the Buyback and get a resultant increase in their percentage shareholding in the Company post the Buyback, without any additional investment.

The buy-back of equity shares, through the tender offer route, is being implemented in keeping with the company's desire to enhance overall shareholder value. The buy-back would reduce the outstanding number of equity shares and may consequently increase earnings per equity share over time. This would, in turn, lead to improvement in return on net worth and other financial ratios and contribute to maximization of overall shareholders' value.

1. The Buy-back gives an option to the equity shareholders to either participate in the Buy-back and receive cash instead of Equity Shares accepted under the Buy-back or not participate in the Buy-back and enjoy a resultant increase in their percentage of shareholding in the Company post the Buy-back;
2. The Buy-back would help in improving certain key financial ratios of the Company;
3. The Buy-back, implemented through the Tender Offer route as prescribed under the Buyback Regulations, would involve a reservation for small shareholders as defined in this Regulation.