SOLARA ACTIVE PHARMA SCIENCES LIMITED — M&A Activity 2018

Sep 28, 2018

Communication Address : S OLARA :23? CASE: Pharma Sciences Limited A? Amivei"horror» firstnit-s; Not 28, Sardar Patel Road, Post Box 2630 W Guindy, Chennai- 600 032, india Tel:-+91 44 43446700, 22207500 Fax: +91 44 22350278

September 28, 2018

Daial Street, Mumbai —

The BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra-Kurla Complex 400 001 Bandra (E), Mumbai -— 400 051

Scrip Code: 541540 Scrip Code: SOLARA

Dear Sir/ Madam,

Sub: Intimation of Scheme of Amalgamation under RegUlation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

We wish to inform you that the Board of Directors of Solara Active Pharma Sciences Limited ("Company") at their meeting held on September 28, 2018, has approved the amalgamation of the Company's wholly owned subsidiary Strides Chemicals Private Limited ("SCPL") with the Company by way of a scheme of amalgamation, pursUant to Sections 230 to 232 of the Companies Act 2013 and the applicable rules and notifications, thereunder ("Proposed Amalgamation''.)

The Proposed Amalgamation is subject [to necessarystatutory and regulatory approvals including the approvals of the Mumbai bench of the National Company Law Tribunal along with approvals from the shareholders and creditbrs of each SCPL and the Company.

The disclosures required under Regulation; 30- of the SEBl- (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. ClR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed as Annexure A to this intimation.

Thanking you,

Yours faithfully, For Solara Active Pharma Sciences Limited

. Murali Krishna Company Secretary

Encl.: as ab0ve

Communication Address : Solara Active Pharma Sciences Limited No. 28, Sardar Patel Road. Post BOX 2630 Guindy, Chennai — 600 032. lndia Tel : +9) 44 43446700, 22207500 Fax : +91 44 22350278

Annexure A

Disclosure of information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) ReLuIations, 2015 read with SEBI Circular No. ClRICFD/CMDI412015 dated September 9, 2015

Amalgamation of Strides Chemicals Private Limited ("SCPL") with Solara Active Pharma Sciences Limited ("Company") '

S.No	Particulars	Remarks
1	Details of the entityforming partofthe amalgamation/merger,details in briefsuch as,size,turnoveretc.	ChemicalsStridesPrivateLimitedits(U24290MH2003PTC138910)havingregistered office at Plot No.N39/N39-1, AnandAmbernathNagar, MIDC, Additional Ambernath,(East), Mumbai -421506(TransferorCompany)Net worth (MarchRs.1300.58 Mn.31, 2018):TurnoverRs.362.07 Mn.(FY 17-18):Solara Active PharmaSciencesLimited,(ClN:itsU24230MH2017PL0291636)havingoffice atDevavrata.SectorNo.201,registered17, Vashi, Navi Mumbai —400 703 (TransfereeCompany)Net worth (March31, 2018): Rs.7639.78 Mn.Turnover(FY 17-18): Rs.5628.61 Mn.
2	Whetherthe transactionwouldfall within related partyiftransactions?yes, whetherthe same is done at "armslength"	theofSCPLisasubsidiarywholly—ownedit would fall withintheCompany, and accordinglydefinition of 'relatedparty transactions'.is ofAs thea whollyProposed AmalgamationwiththeoftheownedsubsidiaryCompanytotheschemepursuantbecomingCompany,thesharesheldby theineffective,Company

, Communication Address: Solara Active Pharma Sciences Limited "Batra Centre" No. 28, Sardar Patel Road. Post Box 2630 Guindy, Chennai - 600 032, India Tel : +9l 44 43446700, 22207500 Fax : +91 44 22350278

		SCPL willstand cancelledand no considerationshall passfrom the Company.
		theisYes,AmalgamationProposedbeingcarried outon an arms' lengthbasis.
3	Area ofbusiness of theentity(ies)	SCPL and the Companyin theare both engagedmanufacture andsale of ActivePharmaceuticalingredients forthe Pharmaceutical Industry
4	Rationale foramalgamation/Merger	TheSchemeshall:simplifymanagement(i)structure leadingto better administration;(ii) theand rationalization ofelimination of duplication,administrativeexpenses;simplify(iii)shareholding structure and reduce shareholdingtiers.
5	consideration —In case of cashamount or otherwiseshareexchange ratio	Not applicableas the ProposedAmalgamationdoes notenvisage issue of anyshares bytheofcashorCompanypaymentanyconsideration.As theProposed Amalgamationof the Companyis of a whollyowned subsidiarytheschemewiththetoCompany,pursuantsharesthetheheldeffective,becomingbyCompany in SCPL will stand cancelled and noconsideration in the form of cash or shares shallbe issued or paidby the Company.
6	Brief detailsofchange inshareholding pattern (if any)oflisted entity	Asmentionedtheschemeabove,uponshares held bythebecoming effective, all equitycancellednewshallstandandnoCompanyshares willissuedby thebeThus,Company.there will not be anychange in the shareholdingof thetotheCompanypursuantpatternProposed Amalgamation.

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