Persistent Systems Limited — Transaction in Own Shares 2019

Aug 29, 2019

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PERSISTENT

NSE & BSE / 2019-20 / 57

August 29, 2019

The Manager, Corporate Services, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai 400 051

The Manager, Corporate Services, BSE Limited 14[th ] Floor, P J Towers, Dalal Street, Mumbai 400 001

Ref: Symbol: PERSISTENT

Ref: Scrip Code: 533179

Dear Sirs,

Sub.: Intimation about proposed Secondary Market Purchase of Persistent Shares by ESOP Trust in a scheduled manner

• Ref.: (1) Our Letter bearing Ref. No. NSE&BSE/2014-15/32 dated July 26, 2014 for approval of PESOS 2014 Scheme and permitted Secondary Market Purchase for creation of pool of shares for the same

  • (2) Our letter bearing Ref. No. NSE&BSE/2016-17 /55 dated July 21, 2017 for shareholders' approval of ESOP 2017 Scheme and permitted secondary market purchase for creation of pool of shares for the same

We refer to our above-mentioned letters dated July 26, 2014 and July 21, 2017 intimating the shareholders' approval for PESOS 2014 Scheme ('PESOS 2014') and Employee Stock Option Plan 2017 ('ESOP 2017') of the Company and permitted secondary market purchase for creation of pool of shares for the same.

The above schemes are being managed and administered by PSPL ESOP Management Trust (ESOP Trust) in terms of the shareholders' approval.

In terms of the above scheme, the pool of shares to be transferred by the ESOP Trust to the eligible employees upon their RSU/ ESOP exercise would be created by purchasing Company shares by the ESOP Trust from the secondary market.

Based on the grants made by the Company, the current requirement for creation of sufficient pool of Company shares for honoring exercise of RSUs/ ESOPs being immediately vested under the PESOS 2014 and P 2017 Scheme is 5,00,000 Company shares.

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Persistent Systems Limited, Bhageerath, 402, Senapati Bapat Road, Pune 411016 I Tel : +91 (20) 670 30000 Persistent Systems Inc., 2055, Laurelwood Rd, Suite 210, Santa Clara, CA 95054, USA I Tel : +1 (408) 216 7010 CIN - L 72300PN1990PLC056696 I Fax - +91 (20) 6703 0009 I e-mail - info@persistent.com I Website - www.persistent.com

Accordingly, it has been decided to acquire the abovementioned 5,00,000 Company Shares from Secondary Market through ESOP Trust in the following manner:

• a. Purchase of shares up to 75,000 shares per week in multiple tranches over the next 3-4 months, except during Trading Window closures

• b. Necessary disclosures will be made to the exchanges after every trade as per the SEBI (Prohibition of Insider Trading) Regulations, 2015 and the Company Code of Conduct for this purpose

• c. Above Purchase Plan will continue till 5,00,000 Company shares are purchased after adhering to the restrictions on the ESOP Trust as per the SEBI (Share Based Employee Benefits) Regulations, 2014.

The above plan of purchase will be executed from Thursday, September 5, 2019.

Please acknowledge the receipt.

Thanking you,

Yours sincerely, For Persistent Sys ems Limited Amit Atr Comp · y Secretary ICSI Membership No.: ACS 20507

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