REDINGTON (INDIA) LTD. - Update on Acquisition of Linkplus, Turkey

With reference to the earlier announcement dated October 07, 2015 regarding, Redington Gulf FZE (RGF), a step down subsidiary of the Company entering into a definitive agreement to acquire 70% stake in Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus).<BR><BR>In this regard, Redington (India) Ltd has now informed BSE that the Company have received a communication from RGF that they have obtained the requisite approvals and have completed the acquisition of 70% stake in Linkplus for a consideration of USD 5.75 Million. The balance 30% shares will be purchased on equitable basis from CY15 to CY17 at a P/E multiple of 5X.