BLACK BOX LIMITED — Major Shareholding Notification 2019

Nov 29, 2019

Essar Telecom Limited Essar House 10, Frere Felix de Valois Street Port Louis, Mauritius (230) 405 1400 F (230) 213 9179 www.essar.com

Date: 29 November 2019

Ref No.: ETL/RD1249/2911

The Listing Department National Stock Exchange of India Ltd., Exchange Plaza, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051.

The Department of Corporate Services BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001.

NSE Symbol: AGCNET

Scrip Code: 500463

Submission of disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares Sub: and Takeovers) Regulations, 2011

Dear Madam/Sir,

Please find enclosed our disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

This is for your information and record.

Thanking you,

Yours faithfully,

For Essar Telecom Limited

Copy to: AGC Networks Limited Equinox Business Park, Tower 1, Off B.K.C, LBS Marg, Kurla West, Mumbai - 400 070.

Disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and
Takeovers) Regulations, 2011

Name of the Target Company (TC)	AGC Networks Limited (The "Company")
Name(s) of the acquirer and Persons Acting in Concert (PAC) with the acquirer	Essar Telecom Limited (the "Acquirer") Onir Information Technology Limited ("PAC") (Formerly known as Essar Information Technology Limited) Onir Metallics Limited ("PAC") (Formerly known as Bhagwat Metallics Limited)
Whether the acquirer belongs to Promoter / Promoter group	Yes the Acquirer belongs to Promoter category.
Name(s) of the Stock Exchange(s) where the shares of TC are Listed	BSE Limited; and National Stock Exchange of India Limited
Details of the acquisition / disposal as follows	Number	% w.r.t. total Share / voting capital wherever applicable (*)	% w.r.t. total diluted share / voting capital of the TC $(**)$
acquisition disposal Before the under consideration, holding of:
Shares carrying voting rights a)
Essar Telecom Limited Onir Information Technology Limited Onir Metallics Limited	1,38,84,143 9,32,203 43,00,000	46.6888% 3.1348% 14.4598%	46.6888% 3.1348% 14.4598%
Shares in the nature of encumbrance (pledge / b) lien / non-disposal undertaking / others)	Nil	Nil	Nil
Voting rights (VR) otherwise than by equity C) shares	Nil	Nil	Nil
Warrants / convertible securities / any other d) instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category)	Nil	Nil	Nil
Total $(a+b+c+d)$ e)	1,91,16,346	64.2833 %	64.2833 %
Details of acquisition / sale
Shares carrying voting rights acquired / sold a) Essar Telecom Limited Onir Metallics Limited	1,97,912 12,40,694	0.6655% 4.1721%	0.6655% 4.1721%
VRs acquired / sold otherwise than by shares b)	Nil	Nil	Nil
Warrants / convertible securities / any other C) instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category) after acquisition.	Nil	Nil	Nil
Shares encumbered / invoked / released by the d) acquirer.	Nil	Nil	Nil
Total $(a+b+c+/-d)$ e)	14,38,606	4.8377%	4.8377%
After the acquisition / sale, holding of:

a)	Shares carrying voting rights
	Essar Telecom Limited	1,40,82,055	47.3543 %	47.3543 %
	Onir Information Technology Limited	9,32,203	3.1348 %	3.1348 %
	Onir Metallics Limited	55,40,694	18.6319 %	18.6319 %
	b) Shares encumbered with the acquirer	Nil	Nil	Nil
C)	VRs otherwise than by equity shares	Nil	Nil	Nil
d)	Warrants / convertible securities / any other instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify	Nil	Nil	Nil
	holding in each category) after acquisition
	e) Total $(a+b+c+d)$	2,05,54,952	69.1210%	69.1210%
	Mode of acquisition / sale (e.g. open market / off- market / public issue / rights issue /preferential allotment / inter-se transfer etc.)	Off-market Purchase
	Date of acquisition / sale of shares / VR or date of receipt of intimation of allotment of shares, whichever is applicable	November 28, 2019
	Equity share capital / total voting capital of the TC before the said acquisition / sale $(*)$	2,97,37,649
	Equity share capital / total voting capital of the TC after the said acquisition / sale	2,97,37,649
	Total diluted share / voting capital of the TC after the said acquisition / sale	2,97,37,649

Note:

(*) Total share capital / voting capital to be taken as per the latest filing done by the Company to the Stock Exchange under Clause 35 of the listing Agreement. - The paid-up Equity share capital of the Company is as on September 30, 2019.

(**) Diluted share / voting capital means the total number of shares in the TC assuming full conversion of the outstanding convertible securities/warrants into equity shares of the TC.

For Essar Telecom Limited

Authorised Signatory

Place: Port Louis, Mauritius Date: November 29, 2019