SOLARA ACTIVE PHARMA SCIENCES LIMITED — Capital/Financing Update 2018

Sep 22, 2018

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		The transaction relates to sale of
		unit situated at Mahad, India.
a) The amount and percentage ofthe turnover or
revenue or income and net worth contributed by such		Asaconsolidatedlevel,Mahad
unit or division ofthe listed entity during the last financial		unitcontributesturnover:Rs
yean		394.40 Mn (7.01%) and Networth:
		Rs 433.52 Mn (5.67%)
b) Date on which the business transfer agreement for		Theagreementexecutedon
sale has been entered	;	September 21, 2018
		The transaction shall be completed
c) The expected date of completion of sale/disposal		by November 30, 2018
		Rs.464Mn.basedonvaluation
d) Consideration to be	received from such sale/disposal;	determined by Independent ValuerandapprovedbytheBoardof
		Directors ofthe Company.
		AboutSeQuentScientific
		Limitedl Buyer
		SeQuentScientificLimited,a
		public listed Company havingits
		registeredofficeatNo301,3rd
e) Briefdetails of buyers and whether any ofthe buyers		Floor, Dosti Pinnacle, Plot No. E7
belong to the promoter/ promotergroup/group		RoadNo.22,WagleIndustrial
companies. If yes, details thereof;		Estate, Thane Pin code 400604.
		The transaction is deemed to be a
		RelatedPartyTransaction,
		SeQuent Scientific Limited is also
		oneof thePromotersgroupof
		Solara.
f) Whether the transaction would fall within related party		Yes,the transactionisat arm’s
transactions?		length and is based on valuation
If yes, whether the same is done at “arms length";		determinedbyanIndependent
		Valuer.
9) Additionally, in case	of a slump sale, indicative
disclosures provided for amalgamation/merger, shall bedisclosed by the listed entity with respect to such slump		Details provided as per Part B
sale.

		Not applicable as the Business	Not applicable as the Business	Not applicable as the Business
		Transaction Agreement
a) Name ofthe entity(ies) forming part oftheamalgamation/merger, details in brief such as, size,turnover		envisages sale of API facility atMahad as a slump sale on agoing concern basis to SeQuent
		Scientific Limited
b) Whetherthe transaction would fall within related party
transactions? If yes, whether the same is done at “arms		The transaction is with a	Related
length";		party and at arms length	basis
c) area of business ofthe entity(ies);		Manufacture ofActive
		Pharmaceutical Ingredients
		The Companyhasdecided		to
		hive-off Mahad unit as	it is	not
d) rationale for amalgamation/ merger;		aligned to multi product	and	US
		focussedbusiness	of	the
		Company..
e) in case ofcash considerationshare exchange ratio;	— amount or otherwise	CashconsiderationofMn.	Rs.464
f) brief details of change in shareholding pattern (ifany)of
listed entity.		Not applicable