Sub: Intimation under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015
Dear Sir/Madam,
Pursuant to Regulation 30 of the SEBI (Listing Regulation and Disclosure Requirement) Regulations, 2015, please be informed that the Company has executed a Share Purchase Agreement dated 30.07.2022, with inter alia India Grid Trust (the purchaser), for sale of Company's entire shareholding in Raichur Sholapur Transmission Company Private Limited ("RSTCPL"). RSTCPL is an "Associate" of the Company.
The proposed sale of shares of RSTCPL to India Grid Trust is subject to applicable regulatory and other approvals and certain conditions, more specifically laid down in the Share Purchase Agreement.
Details of the proposed transaction as required under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, read with Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 is contained in Annexure -A
This is for your information and record.
Thanking you,
Annexure A
Sl.
Particulars
Details
No.
a)
The amount and percentage of the
RSTCPL is an associate of Simplex
turnover or revenue or income and net
Infrastructures Ltd and not a unit or division of
worth contributed by such unit or division
the listed entity. Company holds 33.33% equity
of the listed entity during the last
stake in RSTCPL.
financial year
b)
Date on which the agreement for sale has
30-07-2022
been entered into
c)
The expected date of completion of
The proposed sale of RSTCPL shares is subject
sale/disposal
to applicable regulatory and other approvals and
certain conditions, more specifically laid down
in the Share Purchase Agreement. Therefore,
expected
date
of
completion
of
sale/disinvestment cannot be ascertained at this
stage.
d)
Consideration received from such
The Equity Value of the proposed transaction is
sale/disposal
subject to customary adjustments at closing date
as stated in Share Purchase Agreement and
hence net consideration receivable is not
ascertainable at this stage.
e)
Brief details of buyers and whether any of
India Grid Trust is a SEBI registered
the buyers belong to the promoter/
Infrastructure Investment Trust. Neither India
promoter group/group companies. If yes,
Grid Trust, nor its sponsor nor investment
details thereof
manager belong to the Promoter/ promoter
group/group companies.
f)
Whether the transaction would fall within
This is not a related party transaction
related party transactions? If yes, whether
the same is done at "arm's length"
g)
Additionally, in case of a slump sale,
Not applicable
indicative disclosures provided for
amalgamation/merger, shall be disclosed
by the listed entity with respect to such
slump sale
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Simplex Infrastructures Limited published this content on 30 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2022 14:32:00 UTC.
Simplex Infrastructures limited is an India-based civil engineering and construction contracting company. The Company is engaged in designing, engineering and construction for various projects such as transportation, power, energy and utilities, buildings and marine, among others. The Company's operations predominantly consist of construction/project activities. Its projects include Lalbaug Flyover, Mumbai; Aiport Terminal-Udaipur; Beaumonde Towers, Mumbai; Eastern Express Freeway, Mumbai; Kathipara bridge, Chennai; Hotel Hilton-Doha; Hotel Riltz Carlton-Bangalore; IGI Airport, Delhi; Jaiktkhamb Tower, Chhattisgarh, and Saud Bhavan Plaza, Muscat. The Company's subsidiaries include Simplex (Middle East) Limited, Simplex Infrastructures Libya Joint Venture Co., Simplex Infra Development Private Limited, Maa Durga Expressways Private Limited, Jaintia Highway Private Limited, Simplex Bangladesh Private Limited and PC Patel Mahalakshmi Simplex Consortium Private Limited.
SIMPLEX INFRASTRUCTURES LIMITED 
