Semac Construction Limited — Delisting Announcement 2021

Jan 7, 2021

Date: 07th January, 2021

Scrip Code: 505368	Scrip Code: REVATHI
	Mumbai –400 051.
Mumbai –400 001.	Bandra Kurla Complex, Bandra, East
25th Floor, PJ Towers, Dalal Street,	Exchange Plaza, C-1 Block G,
BSE Limited	National Stock Exchange of India Limited

Dear Sir/ Madam,

Subject: Outcome of the meeting of the Board of Directors of Revathi Equipment Limited ("Company") in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

• 1. This is with reference to the captioned subject and in continuation of our intimation dated 04th January, 2021 ("Intimation"), with respect to the receipt of a letter from Renaissance Advanced Consultancy Limited (RACL) ("Promoter") and Hari Investments Private Limited (Hari), member of the promoter and promoter group of the Company as defined under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, wherein the RACL and Hari have expressed their intention to make a voluntary delisting offer to, either individually, or together with one or more members of the promoter group including its subsidiaries ("Promoter Group") acquire all fully paid-up equity shares of the Company ("Equity Shares") that are held by the Company's public shareholders as defined under the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 as amended from time to time ("Delisting Regulations") ("Public Shareholders"); and consequently voluntarily delist the Equity Shares from the recognized stock exchanges where the Equity Shares are presently listed i.e. BSE Limited ("BSE") and the National Stock Exchange of India Ltd. ("NSE"), in accordance with the Delisting Regulations (the "Delisting Proposal").
• 1. As stated in the Intimation, the meeting of the Board of Directors of the Company ("Board") was convened today, i.e. 07th January, 2021, to inter alia consider the Delisting Proposal. The Board inter alia noted that as per the Delisting Regulations:
  • (i) The Delisting Proposal is required to be approved by the Board and the shareholders of the Company, in accordance with Regulations 8(1)(a) and 8(1)(b) of the Delisting Regulations respectively; and
  • (ii) The Delisting Proposal is required to be approved by the Board only after receipt of a due diligence report from a merchant banker appointed by the Board in this regard.

331, Pollachi Road, Coimbatore - 641 050. India. Phone : 0422 - 2610851, 0422 - 6655100, Fax : 0422 - 6655199 CIN No.: L29120TZ1977PLC000780 E-mail: finance@revathi.in Website:

• 1. In view of the above, the Board transacted the following:
  • (i) Considered and took on record the Delisting Proposal;
  • (ii) approved the appointment of Inga Ventures Private Limited, having SEBI Registration INM000012698 ("Merchant Banker"), in accordance with Regulation 8(1A)(ii) of the Delisting Regulations, for the purposes of carrying out the due diligence in accordance with Regulation 8(1A)(iii), Regulation 8(1A)(iv), Regulation 8(1D) and other relevant provisions of the Delisting Regulations ("Due Diligence"); and
  • (iii) authorized identified personnel to take all necessary steps to procure from the Stock Exchanges details of trading in shares of the Company for a period of 2 years prior to the date of this board meeting by the top 25 shareholders, along with details of off-market transactions by such shareholders for a period of 2 years and any other necessary information, as the Merchant Banker deems fit in connection with the Due Diligence and provide the same to the Merchant Banker.

After the receipt of the due diligence report by the Merchant Banker, the Board will meet again to discuss and take a decision on the Delisting Proposal.

The meeting of the Board commenced at 10.00 AM and concluded at 10.40 AM.

We request you to kindly take the above on record.

For Revathi Equipment Limited

K. Maheswaran Company Secretary and Compliance Officer

Revathi Equipment Limited

331, Pollachi Road, Coimbatore - 641 050. India. Phone : 0422 - 2610851, 0422 - 6655100, Fax : 0422 - 6655199 CIN No.: L29120TZ1977PLC000780 E-mail: finance@revathi.in Website: