BLACK BOX LIMITED — Major Shareholding Notification 2020

Feb 28, 2020

M/S SILVERLEAF OAK ADVISORS LLP

34th floor, Sunshine Tower, Senapati Bapat Marg, Dadar West, Mumbai 400 013 India, LLPIN - AAE2135, Email: infQ@qlt-alpha.com

February 28, 2020

To.

• $1.$ Department of Corporate Services BSE Limited PJ Towers Dalal Street Fort Mumbai 400 001
• $2.$ National Stock Exchange of India Limited Exchange Plaza Plot No. C-1, Block 'G' Bandra Kurla Complex Bandra (E), Mumbai - 400 051
• 1. AGC Networks Limited Equinox Business Park (Peninsula Techno) Park), off Bandra-Kurla Complex, LBS Marg, Kurla (West), Mumbai 400 070

Dear Sirs.

Sub: Disclosure under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("Takeover Code")

In connection with sale of Shares of AGC Networks Limited and release of encumbrance by way of pledge over the Equity Shares of AGC Networks Limited by Bhagwat Metallics Limited in favour of Silverleaf Oak Advisors LLP, we are submitting herewith the abovementioned disclosure in prescribed format.

Kindly acknowledge receipt.

Yours Sincerely For Silverleaf Oak Advisors LLP

Name: Shreyans Mehta Date: February 28, 2020 Place: Mumbai Encl: As above

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 (Anchal – should this be acquirer or Seller)	Silverleaf Oak Advisors LLP (Acquirer), Ebony Advisors LLP (PAC1),
Whether the acquirer belongs to Promoter / Promoter group	N o
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 disposal as follows	Number	$\%$ w.r.t. total Share / voting capital wherever applicable $(*)$	$\%$ w.r.t. total diluted share / voting capital of the TC $(**)$
Before the disposal under consideration, holding of:
Shares carrying voting rights a)	Acquirer: a) 15,00,000 PAC1: b) 3,00,215	a) Acquirer: 5.04% b) PAC1: 1.01%	a) Acquirer: 5.04% b) PAC1: 1.01%
Shares in the nature of encumbrance (pledge / b) lien / non-disposal undertaking / others)	a) Acquirer: 43,00,000 b) PAC1: Nil	b) PAC1: Nil	a) Acquirer: 14.46% a) Acquirer: 14.46% b) PAC1: Nil
c) Voting rights (VR) otherwise than by equity shares	a) Acquirer: Nil b) PAC1: Nil	a) Acquirer: Nil b) PAC1: Nil	a) Acquirer: Nil b) PAC1: 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)	a) Acquirer: Nil b) PAC1: Nil	a) Acquirer: Nil b) PACI: Nil	a) Acquirer: Nil b) PAC1: Nil
e) Total $(a+b+c+d)$	Total: 61,00,215	Total: 20.51%	Total: 20.51%
Details of sale
Shares carrying voting rights sold a)	a) Acquirer: 12,50,000 b) PAC1: Nil	a) Acquirer: 4.20% b) PAC1: nil	a) Acquirer: 4.20% b) PAC1: nil
b) VRs sold otherwise than by shares	a) Acquirer: Nil b) PAC1: Nil	a) Acquirer: Nil b) PAC1: Nil	a) Acquirer: Nil b) PAC1: Nil
Warrants / convertible securities / any other $\mathcal{C}$ ) instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category) after acquisition.	a) Acquirer: Nil b) PAC1: Nil	a) Acquirer: Nil b) PAC1: Nil	a) Acquirer: Nil b) PAC1: Nil
Shares encumbered / invoked / released by the d) acquirer.	a) Acquirer: 43,00,000	b) PAC1: Nil	a) Acquirer: 14.46% a) Acquirer: 14.46% BRACI: Nil

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e) Total $(a+b+c+/-d)$	Total: 55,50,000	Total: 18.66%	Total: 18.66%
After the sale, holding of:	on a
Shares carrying voting rights a)	a) Acquirer: 2,50,000 $b)$ PAC1: 3,00,215	a) Acquirer: 0.84% b) PAC1: 1.01%	a) Acquirer: 0.84% b) PAC1: 1.01%
b) Shares encumbered with the acquirer	a) Acquirer: Nil b) PAC1: Nil	a) Acquirer: Nil b) PAC1: Nil	a) Acquirer: Nil b) PAC1: Nil
c) VRs otherwise than by equity shares	a) Acquirer: Nil	a) Acquirer: Nil	a) Acquirer: Nil
d) Warrants / convertible securities / any other instrument that entitles the acquirer to receive shares carrying voting rights in the TC (specify holding in each category) after acquisition	a) Acquirer: Nil b) PAC1: Nil	a) Acquirer: Nil b) PAC1: Nil	a) Acquirer: Nil b) PAC1: Nil
e) Total $(a+b+c+d)$	Total: 5,50,215	Total: 1.85%	Total: 1.85%
Mode of acquisition / sale (e.g. open market / off- market / public issue / rights issue /preferential allotment / inter- se transfer etc.)	Open Market Sale
Date of acquisition / sale of shares / VR or date of receipt of intimation of allotment of shares, whichever is applicable	26/02/20: Sale of 7,50,000 shares 27/02/20: Sale of 2,35,000 shares 28/02/20: Sale of 2,65,000 shares 28/02/20: Release of pledge on 43,00,000 shares
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 December 31, 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 Silverleaf Oak Advisors LLP (Acquirer/Pledgee)

Partner/Authorised Signatory

Place: Mumbai Date: 28-02-2020