Remsons Industries Ltd. — Capital/Financing Update 2020

Oct 22, 2020

REMSONS

Industries limited

P.O.Bag No.7685 Mumbai- 400067 Tel. : 26122368 / 26113883 / 26114452 Web : www .remsons.com CIN : L51900MH1971PLC015141

22[nd] October, 2020

To,

Corporate Service Dept. The Listing Department, BSE Limited National Stock Exchange of India Limited Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (E), Mumbai – 400 001 Mumbai – 400051. Scrip code: 530919 Symbol: REMSONSIND

Dear Sirs,

Sub.: Intimation of incorporation of a wholly owned subsidiary of REMSONS INDUSTRIES LIMITED (the "Company").

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that Remsons Industries Limited, has signed definitive agreements on 21st October, 2020 to acquire assets of Magal Cables Ltd and shares of Woolford Properties Ltd.

The details as required under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. CIR/CFD/CMD4/2015 dated September 9, 2015 is enclosed as Annexure A.

Kindly take the same on record.

Thanking you,

Yours faithfully,

For REMSONS INDUSTRIES LIMITED

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ROHIT DARJI COMPANY SECRETARY & COMPLIANCE OFFICER Encl. : A/a

Regd. Office: 401, 4[th] Floor, Gladdiola, Hanuman Road, Vile Parle (East), Mumbai. 400 057

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REMSONS

Industries limited

P.O.Bag No.7685 Mumbai- 400067 Tel. : 26122368 / 26113883 / 26114452 Web : www .remsons.com CIN : L51900MH1971PLC015141

As required under Regulation 30 of the Listing Regulations, as amended, read with SEBI circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015 details are given below:-

Sr.No.	Particulars	Details
1.	Name of the target entity, details in briefsuch as size, turnover etc.;	Magal Cables Ltd. (MCL) – AutomotiveComponents manufacturing company withplant located Stourport-on-Severn (UK).For FY20,Revenue – GBP 8.6 millionEBITDA – GBP 1.5 millionWoolford Properties Ltd (WPL) – It is theproperty holding company where MCL plantis located. Area is 7,100 sqmRemsons Industries Ltd (RIL) has acquiredassets of MCL on debt free & cash free basisand shares of WPL.
2.	Whether the acquisition would fall withinrelated party transaction(s) and whetherthe promoter/promoter group/ groupcompanies have any interest in the entitybeing acquired? If yes, nature of interestand details thereof and whether the sameis done at "arms length".	No
3.	Industry to which the entity beingacquiredBelongs	Automotive Components Manufacturing
4.	Objectsandeffectsofacquisition(including but not limited to, disclosure ofreasons for acquisition of target entity, ifits business is outside the main line ofbusiness of the listed entity)	RIL is one of the major suppliers of MCL.Acquisition gives RIL access to key globalOEMs

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Regd. Office: 401, 4[th] Floor, Gladdiola, Hanuman Road, Vile Parle (East), Mumbai. 400 057

REMSONS

Industries limited

P.O.Bag No.7685 Mumbai- 400067 Tel. : 26122368 / 26113883 / 26114452 Web : www .remsons.com CIN : L51900MH1971PLC015141

5.	Brief details of any governmental orregulatory approvals required for theacquisition	No
6.	Indicative time period for completion ofthe acquisition	It is completed
7.	Nature of consideration - whether cashconsideration or share swap and details ofthe same	All Cash deal
8.	Cost of acquisition or the price at whichthe shares are acquired	GBP 2.8 million
9.	percentage of shareholding / controlacquired and / or number of sharesacquired	100%
10.	Briefbackgroundabouttheentityacquired in terms of products/line ofbusiness acquired, date of incorporation,history of last 3 years turnover, country inwhich the acquired entity has presenceand any other significant information (inbrief)	MCL is manufacturer of cables systems andscissor jacks in UK for automotive OEMs likeFord, Jaguar, Land Rover and Daimler. ForFY18, FY19 & FY20, revenues of MCL wereGBP 7.8 million, GBP 8.6 million & GBP 8.6million

For REMSONS INDUSTRIES LIMITED

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ROHIT DARJI COMPANY SECRETARY & COMPLIANCE OFFICER

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Regd. Office: 401, 4[th] Floor, Gladdiola, Hanuman Road, Vile Parle (East), Mumbai. 400 057