Mastek Limited — Capital/Financing Update 2020

Mar 6, 2020

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SEC/87/2019-20

March 6, 2020

Listing Department	Listing Department
BSE Limited	The National Stock Exchange of India Limited
25 th Floor, Phiroze Jeejeebhoy Towers	Exchange Plaza, C-1, Block G,
Dalal Street, Fort, Mumbai-400 001	Bandra Kurla Complex, Bandra (E), Mumbai - 400 051
	Tel No. 022-22723121, Fax No. 022-22721919 Tel No.: 022-26598100, Fax No. 022-26598120
SCRIP CODE: 523704	SYMBOL: MASTEK

Subject: Outcome of the proceedings of the Board Meeting held today – March 6, 2020 in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")

Dear Sir(s)/Ma'am(s),

We wish to inform you that the Board of Directors at their meeting held today – March 6, 2020, approved to avail the Stand by letter of credit (SBLC) facility upto GBP 30 million or its equivalent in INR/USD sanctioned by Citi Bank N.A. India to secure the credit facilities to be extended to our Wholly Owned Subsidiary Mastek (UK) Limited by Citi Bank N.A. London, subject to applicable laws and approvals. (Prescribed details annexed as "Annexure A")

The meeting of the Board of Directors of the Company commenced at 1.15 p.m. and concluded at 2.00 p.m.

This is for your information and record.

Thanking you. Yours Truly

For MASTEK LIMITED

DENESH KALANI COMPANY SECRETARY Encl: AA

$\mathcal{G}$ ₫ Mastek

Annexure - A

Details as required under Regulation 30 of SEBI Listing Regulations are as follows.

Sr. No.	Particulars	Details
a.	Name of party for which such guarantees or	Mastek (UK) Limited, Wholly Owned
	indemnity or surety given	Subsidiary (Wholly Owned Subsidiary) of
		Mastek Limited
$\mathbf{b}$ .	Whether the promoter/ promoter group/ group companies have any interest in this transaction? If yes, nature of interest and details thereof and whether the same is done	No
	at "arm's length".
C 1	Brief details of such guarantee or indemnity or becoming a surety viz. brief details of agreement entered (if any) including significant terms and conditions, including amount of guarantee;	Mastek Limited will be availing SBLC facility upto GBP 30 million or its equivalent in INR/USD from Citi Bank N.A. India for extending credit facilities to Mastek (UK) Limited, Wholly Owned Subsidiary through Citi Bank N.A. London.
$d_{\cdot}$	Impact of such guarantees or indemnity or surety on listed entity	No financial/ operational impact foreseen till invocation of SBLC by the lender. In the event of invocation, the guarantee may have an impact on the Company's financials.

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