Rapicut Carbides Ltd. — Capital/Financing Update 2019

Nov 20, 2019

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Corporate Relationship Dept. BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai ‐ 400 001.

Fax : 022‐2272 3121/2272 1919

REF: RCL:KMS:BSE‐REG‐30/19:

Date: 20‐11‐2019

Dear Sir,

Sub: Online Coverage in respective of Acquiring Controlling stake.

Scrip Code: 500360

Please find enclosed press release made by promoter of United Wolfram, Mr Abhishek Gami for acquiring 5.62% of equity shares through open offer mechanism and 27.77% of equity shares through Share Purchase Agreement which is proposed to be completed within the period prescribed under Regulation 22(3) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.

You are requested to kindly take note of the same.

Thanking you,

Yours faithfully,

For Rapicut Carbides Limited

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Kamlesh M Shinde Company Secretary.

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Acquisition of controlling stake in Rapicut Carbides Limited

 Mr. Abhishek Gami, our promoter, acquires controlling stake in Rapicut Carbides Limited

Surat, November 18, 2019 : Mr. Abhishek Gami, our promoter, acquires controlling stake in Rapicut Carbides Limited at a deal value of INR 75.32 million. Mr. Abhishek Gami acquired 33.39% stake through a combination of share purchase agreement from the existing promoter group of the Rapicut Carbides Limited and open offer mechanism. Rapicut Carbides Limited, incorporated in April 1977 in Ankleshwar, Gujarat is engaged in the business of manufacturing of Tungsten Carbide Tips, Inserts and other Carbide products from ore stage. Rapicut is listed on BSE Limited since 1979 .

Mr. Abhishek Gami is the Managing Partner of M/s. United Wolfram, with core experience in manufacturing and dealing of metal powders, tools and intermediates of tungsten and related products. With this acquisition, United Wolfram Group has expanded business through forward integration.

Pantomath Capital Advisors Private Limited acted as the sole investment banker to the acquirer and also as the manager to the open offer under SEBI Takeover Code.

About United Wolfram

United Wolfram, Surat based Partnership firm engaged in Specialty Chemicals of Tungsten and Cobalt, Tungsten Powders and its salts.

United Wolfram is reckoned as one of the foremost Manufacturers, Exporters and Suppliers of Tungsten Trioxide, Sodium Tungstate, Calcium Tungstate, Tungstic Acid, Tungsten Metal Powder, Tungsten Carbide Powder, Fused Tungsten Carbide Powder, Ready to press Powder, Cobalt Metal Powder, Cobalt Oxide etc. These chemicals are used in various industries for numerous applications.

Industries where Tungsten is one of the key raw materials:

Defence, Mining, Cemented Carbides, Aerospace, Automotive Industries, Tungsten in Steel, Chemicals, Coating Technology, Diamond Tools, Electronics & Electrical Industries, Energy, Medical Technology, Oil and Gas Industries, Power Generation, Semi-conductor & Electronics and many Special Applications.

Note

The acquisition through Share purchase agreement is proposed to be completed within the period prescribed under SEBI Takeover code.

For further information, please contact

Abhishek Gami +91 9228833168 Managing Partner United Wolfram avgami2244@gmail.com