Outcome of Board Meeting

• Security Code: 532419
• Company: SMARTLINK

Smartlink Network Systems Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 29, 2016, inter alia, has:

1. Approved Buyback proposal for purchase by the Company of its own fully paid equity shares of Rs. 2/- each ("Equity Share") not exceeding 74,54,850 Equity Shares at a price not exceeding Rs. 110/- (Rupees Hundred and Ten only) per Equity Share ("Buyback Offer Price"), for an aggregate amount of Rs. 82,00,33,500/- (Rupees Eighty Two Crores Thirty Three Thousand Five Hundred Only) (hereinafter referred to as the "Buyback Offer Size"), (being less than 25% of the total paid-up equity capital and free reserves of the Company as on March 31, 2015) (hereinafter referred to as the "Buyback") from the shareholders of the Company on a proportionate basis through the tender offer route in accordance and consonance with the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 ("Buy-back 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 ("Act").

The Board noted the intention of the Promoter and Promoter Group of the Company to participate in the proposed Buyback.

The Buyback would be subject to approval of the shareholders by way of a Special Resolution through Postal Ballot and all other applicable statutory approvals.

The public announcement setting out the process, timelines and other statutory details will be released in due course in accordance with the Buy-back Regulations. The Board has formed a Buy-back Committee (the "Buy-back Committee") and has delegated its powers to the Buy-back 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 Buy-back.

2. Approved seeking member’s approval through postal ballot process pursuant to Section no of the Companies Act, 2013, read with Rules framed thereunder for approval of buy-back, as above, and providing e-voting facility to the Members of the Company for Postal Ballot process and appointment of Scrutinizer for conducting postal ballot and e-voting process.

The Board meeting commenced at 08:30 a.m. and concluded at 10.10 a.m.