Outcome of Board Meeting (Board approves Buy-Back of Equity Shares)

• Security Code: 500260
• Company: RAMCOCEM

The Ramco Cements Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 07, 2017, has approved the proposal of Buy-Back by the Company of its fully paid up Equity Shares for an aggregate amount not exceeding Rs. 180 crores (Rupees One hundred eighty crores only), excluding transaction costs ("Transaction Costs") viz. brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty ("Maximum Buy Back Size"), being 6.07% of the total paid up share capital and free reserves of the Company based on the audited financial statements of the Company as at March 31, 2016 (being the date of the last audited financial statements of the Company), for a price not exceeding Rs. 720/- (Rupees Seven hundred twenty only) per equity share ("Maximum Buy Back Price") from shareholders of the Company excluding promoters, promoter group, persons acting in concert and persons who are in control of the Company, payable in cash through the open market purchases method on the stock exchanges under the SEBI (Buy-Back of Securities) Regulations, 1998 and the Companies Act, 2013.

At the Maximum Buy-Back Price and for Maximum Buy-Back Size, the maximum number of equity shares bought back would be 25,00,000 (Twenty five Lakhs) equity shares ("Maximum Buy Back Shares") which is 1.05% of the paid up Equity shares.

Further, the Company shall utilize at least 50% of the amount earmarked as the Maximum Buy-Back Size for the Buy-Back i.e. Rs. 90 crores (Rupees Ninety crores only) ("Minimum Buy-Back Size") and based on the Minimum Buy-Back Size and the Maximum Buy-Back Price, the Company would purchase a minimum of 12,50,000 (Twelve lakh and fifty thousand only) equity shares ("Minimum Buy-Back Shares").

The actual number of equity shares bought back during the Buy-Back will depend upon the actual price, excluding the Transaction Costs, paid for the equity shares bought back and the aggregate consideration paid in the Buy-Back, subject to the Maximum Buy-Back Size and Minimum Buy-Back size.

The Company shall publish the Public Announcement within seven working days from the date of the Board meeting. The dates of the Buy Back offer will be mentioned in the Public Announcement.