R Systems Announces the outcome

The Board of Directors of R Systems International Limited at its meeting held on January 15, 2019 has inter alia approved the following:

1. The proposal for Buyback of Equity Shares of the Company, upto 3,690,000 (Thirty Six Lakhs Ninety Thousand) fully paid-up Equity Shares of Re. 1/- each of the Company (representing 2.98% of the total number of equity shares in the paid-up share capital of the Company) at a price of Rs. 65/- (Rupees Sixty Five only) per equity share (hereinafter referred as “Buyback Price”) payable in cash for an aggregate consideration not exceeding Rs. 239,850,000 (Rupees Twenty Three Crores Ninety Eight Lakhs Fifty Thousand only) (hereinafter referred as “Maximum Buyback Size”), representing 9.87% of the total paid-up equity share capital and free reserves as per the audited standalone balance sheet of the Company as on December 31, 2017, from all existing shareholders of the Company on the record date determined by the Board of Directors i.e. Friday, February 01, 2019, on a proportionate basis through “Tender Offer” route in accordance with the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 2018 (“Buyback Regulations”) (including any statutory modification(s) or re-enactment of the Act or Buy-back Regulations, for the time being in force) and the Companies Act, 2013 and rules made thereunder. The Maximum Buyback Size, excludes transaction costs viz. fees of various agencies, brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty etc. (“Transaction Costs”).
2. Constitution of the Buyback Committee and delegation of its powers to the Buyback Committee to do all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary, expedient, usual or proper in connection with the Buyback.
3. Appointment of Motilal Oswal Investment Advisors Limited as the Manager to Buyback Offer, Link Intime India Private Limited as Registrar and Investor Service Centre, and Mr. Bhasker Dubey, Company Secretary as Compliance Officer for the purpose of the Buyback.

Further, The Board also noted the intention of the members of the promoter and promoter group of the Company to participate in the proposed Buyback

For further information please contact:
Bhasker Dubey (Tel No. 0120 – 430 3566)