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| Exchange Received Time 04/07/2018 15:33:14 Exchange Disseminated Time 04/07/2018 15:33:21 Time Taken 00:00:07 | Dear Sir,
This is to inform you that pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, the meeting of board of directors of Sayaji Industries Limited was held at 5.00 p.m. on Tuesday, July 3, 2018 wherein it was decided to sell 12,00,000 equity shares of Sayaji Sethness Limited of the face value of Rs.10/- each held by the company, being 40% of the equity capital of Sayaji Sethness Limited to Sethness Products Company USA, the joint venture partner of the company, for an aggregate consideration of the INR equivalent to USD 32,00,000 subject to completion of agreed conditions.
The details as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 read with SEBI circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015 are given in annexure A to this Letter.
This is for your information.
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