Remsons Industries Ltd. — M&A Activity 2020

Sep 8, 2020

REMSONS

Industries limited

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

8[th] September, 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

Sub: Disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sirs,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that Remsons Industries Ltd. (“Remsons”), a leading automotive components manufacturer, has entered into a binding agreement through international bidding to acquire the business of Magal Cables Ltd (“MCL”) along with the shares of its associates, subsidiaries and JV.

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

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

Remsons Emerges as top Bidder for Acquisition of Select Assets of Arlington Group in UK:

Remsons Industries Ltd. (“Remsons”), a leading automotive components manufacturer, announced today that it has entered into a binding agreement through international bidding to acquire the business of Magal Cables Ltd (“MCL”) along with the shares of its associates, subsidiaries and JV. The total consideration would be in the range of GBP 3 to 4 million pounds subject to closing adjustments. This acquisition is a step towards forward integration as Remsons is one of the largest suppliers to MCL and this will create value for all the stakeholders.

About Magal Cables Ltd.

Magal Cables Ltd, UK is part of Arlington Group – Engineering Systems and manufactures hood release, handbrake & other cable systems and scissor jacks. MCL has manufacturing facilities for cable systems and scissor jacks. The components manufactured are shipped to UK, rest of Europe, USA and other key auto‐clusters worldwide. In the financial year ended 31[st] March 2020, MCL achieved a standalone revenue of GBP 8.6 million with EBITDA of GBP 1.2 million.

About Arlington Group

Arlington Group consists of many entities and operates three key business unit: (i) Thermal Management, (ii) Engineering Systems and (iii) Thermostatic elements. The group was placed under administration in May 2020 due to financial constraints of the business.

About Remsons Industries Ltd.

Remsons a Pioneer in India for Auto Control Cables & Gear Shifters with Push Pull Cables combines a passion for client satisfaction, technology innovation, deep industry and business process expertise and a collaborative workforce that embodies the future of work. Spread over 6 locations employing approximately over 900 people Remsons is committed to deliver.

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