Outcome of Board Meeting

• Security Code: 501151
• Company: KARTKIN

Kartik Investments Trust Ltd has informed BSE that the meeting of the Board of Directors of the Company to inter alia consider the due diligence certificate in connection with proposal on voluntary delisting of equity shares of the Company.
In this regard, the Board of Directors at their meeting held February 20, 2017 has:

1. Considered and taken on record the Due Diligence Report dated February 20, 2017 submitted by M/s. Karvy Investor Services Limited, the Merchant Banker.

2. Approved the proposal of Voluntary Delisting of equity shares of the Company from BSE Limited pursuant to and in accordance with Regulation 8(1)(a) and special provisions in case of small companies as enumerated in Chapter VII of the Delisting Regulations after taking note of the floor price of Rs.72/- (Rupees Seventy Two Only) as intimated by M/s. Chola Business Services Limited, acquirer vide their letter dated February 16, 2017.

3. Based on information available with the Company and certain confirmations received from the Promoters, it is certified that:

i. the Company is in compliance with the applicable provisions of securities laws; and

ii, the acquirer, promoter or promoter group or their related entities, are in compliance with sub-regulation (5) of regulation 4 of the Delisting Regulations; and

iii. Since the shares of the Company are infrequently traded, the board of directors believes that the Delisting Offer presents a liquidity opportunity to the public shareholders of the Company and accordingly, the proposed delisting is in the interest of the public shareholders; and

4. Approval of notice to obtain the consent of shareholders of the Company for the Delisting Offer by way of Postal Ballot as required under regulation 8(1)(b) of the Delisting Regulations

5. Appointed M/s. R Sridharan & Associates, Practising Company Secretaries,Chennai to act as scrutinizer for conducting the postal ballot process in fair and transparent manner.

6. Approved the closure of Trading window from February 12, 2017 till the closing hours of February 22, 2017 as per SEBI (Prohibition of Insider Trading) Regulations, 2015.