REG - Rolta India Limited - Announcement of Cancellation of Listing of GDRs <Origin Href="QuoteRef">ROLT.NS</Origin>

Rolta IndiaAnnouncement

30/05/2017 14:30

RNS Number : 5921G
Rolta India Limited
30 May 2017
 
May 30, 2017
ANNOUNCEMENT
ROLTA INDIA LIMITED ANNOUNCES THE CANCELLATION OF LISTING AND TRADING OF ITS GLOBAL DEPOSITORY RECEIPTS AND CANCELLATION FROM THE OFFICIAL LIST OF FINANCIAL CONDUCT AUTHORITY
Rolta India Limited ("Company") announces that the Company has made application to the London Stock Exchange (LSE) and the Financial Conduct Authority (FCA) to cancel the listing and trading of its Global Depositary Receipts ("GDRs") ("Delisting") and cancellation from the official list of FCA effective as of June 30, 2017 ("Delisting Date"). This announcement is given in fulfillment of the obligation under Listing Rule 5.2.8.
This request refers to GDRs with the following features:
1. Name of issuer:
Rolta India Limited 
2. Securities subject to delisting: GDR described below

Master Rule 144A GDR
Master Regulation S GDR
CUSIP......................................
775790108
775790207
ISIN..........................................
US7757901084
US7757902074
Common Code .......................
024904334
024851508
Market: GDR Main Market of the London Stock Exchange
Currency: USD
3. Regulated investment exchange on which securities are traded:
The GDRs are listed on London Stock Exchange Main Market and are admitted to the official list of the FCA.
4. Reasons for delisting:
Rolta India Limited intends to cancel the listing and trading of its GDRs with LSE and cancellation from the official list of FCA due to the very low numbers of GDRs (i.e. 3,39,619) in existence and limited liquidity together with ongoing costs of such listing rendering the economic rationale for a continued listing unsustainable. Further there is no demand for the stock for the past couple of years as is evident from non-reissuance of the GDR Program.
The GDRs will not be listed or traded anywhere after the Delisting Date. The underlying shares will continue to be listed and traded on the the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India after the Delisting Date.
About Rolta: Rolta is a leading provider of innovative IP-led IT solutions for many vertical segments, including Federal and State Governments, Utilities, Oil & Gas, Petrochemicals, Financial Services, Manufacturing, Retail, and Healthcare. Rolta is recognized for its extensive portfolio of solutions based on field-proven Rolta IP tailored for Indian Defence and Homeland Security. By uniquely combining its expertise in the IT, Engineering and Geospatial domains, Rolta develops State-of-the-Art Digital Solutions incorporating rich Rolta IP in the areas of Cloud, Mobility, IoT, BI and Big Data Analytics. Rolta is a multinational organization headquartered in India and the Company's shares have been publicly traded for more than 25 years in India.
Kindly acknowledge receipt and take the same on your record.
Contacts:
Rolta India Limited -  Mr. Ramakrishna Prabhu 
 Director - Corporate Affairs & CFO
Tel: +91 (22) 29266666 | Extn : 1181 | Fax : +91(22) 28365992 | 
Email Ramakrishna.Prabhu@rolta.com
Thanking you,
Yours faithfully,
for Rolta India Limited,
Verinder Khashu
Company Secretary & 
Head Legal / Compliance
http://www.rns-pdf.londonstockexchange.com/rns/5921G_-2017-5-30.pdf

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