Sasken Technologies Limited — Capital/Financing Update 2019

Oct 14, 2019

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BSE Limited, Dept. of Corporate Services – CRD, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

October 14, 2019

National Stock Exchange of India Limited, Exchange Plaza, C-1, Block - G, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 By Web Upload

Dear Sir / Madam,

Sub: Buy-back of Sasken Technologies Limited (the “Company”) - Extension in closing date of Buy-back Offer Ref: Scrip Code 532663/ SASKEN

With reference to captioned subject and Letter of Offer dated September 30, 2019 (“LOF”) containing an offer to Buy-back up to 20,59,243 (Twenty Lakhs Fifty Nine Thousand Two Hundred and Forty Three only) fully paid up Equity Shares of the Company of face value of Rs.10/- (Rupees Ten only) each at a price of Rs.825/- (Rupees Eight Hundred and Twenty Five only) from all the Eligible Shareholders of the Company holding Equity Shares on the Record Date i.e., Friday, July 5, 2019.

As disclosed in the LOF, the said Buy-back Offer was opened on Friday, October 11, 2019 and set to close on Thursday, October 24, 2019. On account of declaration of public holiday on October 21, 2019 in the State of Maharashtra for the General Assembly Election post the date of LOF, the Securities and Exchange Board of India (“SEBI”) – Mumbai Office, BSE Limited (“BSE”) and The National Stock Exchange Limited (“NSE”) have also declared, Monday, October 21, 2019 as trading holiday.

Accordingly, in compliance with SEBI (Buy-Back of Securities) Regulations, 2018, the Buy-back Closing date is extended by one working day i.e. from Thursday, October 24, 2019 to Friday, October 25, 2019.

The eligible Equity Shareholders/ Beneficial Owners of Equity Shares of the Company are requested to note the following changes/amendments to Letter of Offer

1. Revised Schedule of Activities on Page No.2 of LOF:

Activity	Day, Date (as per Letter of Offer)	Revised Day, Date
Date of the Board meeting held to approve the proposal for Buy-back of Equity Shares	Tuesday, April 23, 2019	Tuesday, April 23, 2019
Date of declaration of results of the postal ballot for Special Resolution by the Equity Shareholders, approving the Buy-back	Thursday, June 20, 2019	Thursday, June 20, 2019
Date of publication of Public Announcement for the Buy-back	Monday, June 24, 2019	Monday, June 24, 2019
Record Date for determining the Buy-back Entitlement and the Eligible Shareholders	Friday, July 5, 2019	Friday, July 5, 2019
Buy-back opens on / Buy-back Opening Date	Friday, October 11, 2019	Friday, October 11, 2019
Buy-back closes on / Buy-back Closing Date	Thursday, October 24, 2019	Friday, October 25, 2019
Date of verification by Registrar to Buy-back	Monday, November 4, 2019	Tuesday, November 5, 2019

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Activity	Day, Date (as per Letter of Offer)	Revised Day, Date
Date of intimation to the Designated Stock Exchange regarding acceptance or non- acceptance of tendered Equity Shares by the Registrar and Manager to the Buy-back	Monday, November 4, 2019	Tuesday, November 5, 2019
Last date of settlement of bids on the Stock Exchange	Tuesday, November 5, 2019	Wednesday, November 6, 2019
Last date of return of unaccepted demat shares by Designated Stock Exchange to Seller Member / Broker	Tuesday, November 5, 2019	Wednesday, November 6, 2019
Last date of extinguishment of Equity Shares bought back	Tuesday, November 12, 2019	Wednesday, November 13, 2019

Note: Where last dates are mentioned for certain activities, such activities may happen on or before the respective last dates.

1. Across the Letter of Offer, the closing date for the Buy-back mentioned as Thursday, October 24, 2019 stands substituted and should be read as Friday, October 25, 2019 .

2. In Paragraph 20.22, the third paragraph as set out in the Letter of Offer, stands substituted and should be read as follows:

EQUITY SHAREHOLDERS WHO DEMATERIALIZE THEIR EQUITY SHARES AFTER THE RECORD DATE (FRIDAY, JULY 5, 2019) AND TENDERS THEIR EQUITY SHARES IN THE BUY-BACK HAVE TO SEND A LETTER ALONG WITH TRANSACTION STATEMENT OF THE DEMAT ACCOUNT FROM WHERE THE EQUITY SHARES ARE TENDERED, TO THE REGISTRAR ON OR BEFORE FRIDAY, OCTOBER 25, 2019.

Except as detailed in this Letter, the contents and other terms of the Letter of Offer remain unchanged. Capitalized terms used and not defined herein shall have the same meaning as ascribed to it in the Letter of Offer

Kindly receive the same in order and take the same on record.

Thanking you,

Yours faithfully, For Sasken Technologies Limited

S. Prasad Associate Vice President & Company Secretary