Rhodia Specialty Chemicals India: Board Meeting on Nov 09, 2013 (Delisting Proposal)

Rhodia Specialty Chemicals India Ltd has informed BSE that the Company has received a letter dated November 08, 2013 from Solvay SA, a member of the promoter and promoter group (as defined under applicable laws of India) of the Company ('Acquirer'), with a proposal to voluntarily delist the Equity Shares from the BSE, in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009, as amended ('Delisting Regulations') by making a delisting offer to acquire upto 292,774 Equity Shares held by public shareholders in the Company representing 8.673% of the paid-up equity share capital of the Company ('Delisting Proposal'). Solvay Participations France S.A.S currently holds 620,852 Equity Shares, representing 18.392% of the paid-tip equity share capital of the Company, and along with Rhodia UK Limited, currently holds, 91.327% of the paid-up equity share capital of the Company.

As per the intimation received from the Acquirer, the objective of the Delisting Proposal is (i) to increase ownership in the Company, which will provide the Acquirer with increased operational flexibility to support the Company?s business, and (ii) to provide an exit opportunity to the public shareholders of the Company.

In this regard, the Acquirer has requested the Company to convene a meeting of the Board of Directors of the Company to consider the Delisting Proposal, and take all such steps as are required or desirable in connection with the Delisting Proposal, including placing the Delisting Proposal before the shareholders of the Company for their consideration in accordance with the Delisting Regulations and seeking the in- principle approval for the Delisting Proposal from the BSE.

Accordingly, a meeting of the Board of Directors of the Company will be convened on November 09, 2013 to discuss and consider the Delisting Proposal.