On 02 June 2025, RDB Real Estate Constructions Limited submitted an official intimation to both BSE Limited and The Calcutta Stock Exchange Limited regarding its upcoming Board of Directors meeting. This meeting is scheduled for Monday, 09 June 2025, at 03:00 PM and will be conducted at the company's Registered Office in Kolkata, located at Bikaner Building, 8/1, Lal Bazar Street, 1st Floor, Room No. 11, Kolkata - 700001.

This announcement is in line with the company's obligations under Regulation 29 of SEBI Listing Obligations and Disclosure Requirements Regulations 2015, commonly known as SEBI LODR.

Purpose of the Board Meeting

The most significant agenda item of this meeting is the proposal to voluntarily delist the equity shares of RDB Real Estate Constructions Limited from the Calcutta Stock Exchange. The company remains listed on the Bombay Stock Exchange under Scrip Code 544346, and this delisting move appears to be focused only on the Calcutta Stock Exchange, where it is listed under Scrip Code 028397.

Voluntary delisting is a strategic decision often taken by companies when they assess that continued listing on a particular exchange is no longer beneficial due to factors such as low trading volumes, compliance burden, and operational costs. By reducing the number of exchanges on which it is listed, the company aims to streamline its regulatory obligations and focus investor activity on a single, more liquid platform.

If the board approves this resolution on 09 June, the company will begin the delisting process in accordance with the SEBI Delisting of Equity Shares Regulations 2021.

Secondary Matters with Permission of the Chair

In addition to the main agenda item, the board may also consider any other matters that arise during the meeting, provided these are taken up with the permission of the Chair. This clause is included to maintain flexibility and ensure that if any urgent or relevant issue comes up close to or during the meeting, the board has the authority to address it.

Such issues could range from routine business approvals, project reviews, financial authorisations, or statutory filings that require board input.

Importance of this Announcement

This communication is an important indicator of the company’s adherence to regulatory transparency and timely disclosures, which are essential for maintaining trust among investors, stakeholders, and regulatory authorities.

By submitting this announcement to both BSE Limited (located at P J Towers, Dalal Street, Mumbai - 400001) and The Calcutta Stock Exchange Limited (7, Lyons Range, Kolkata - 700001), RDB Real Estate Constructions Limited is ensuring that all exchanges and shareholders are kept in the loop about corporate actions.

Impact on Shareholders

For shareholders holding the company’s equity through the Calcutta Stock Exchange, this development is significant. If the delisting goes ahead, these shareholders may be provided with an exit opportunity under a voluntary buyback scheme. According to SEBI regulations, such a scheme must offer a fair exit price based on market valuation and must be approved by the shareholders through a special resolution.

Investors trading on BSE will not be directly affected by this move, as the company continues to remain listed on that platform. However, they may also benefit from a more focused investor base, improved liquidity, and potentially better price discovery over time.

The Process of Voluntary Delisting

Should the board approve the delisting proposal on 09 June 2025, the next steps will typically include:

• Submission of a formal application to the Calcutta Stock Exchange

• Issuance of a public announcement regarding the proposed delisting

• Dispatch of a postal ballot notice to shareholders to obtain their approval

• Declaration of voting results as per SEBI’s guidelines

• Implementation of an exit window for shareholders who wish to sell their shares

All of these stages will be monitored and guided by SEBI regulations, ensuring that shareholder rights are fully protected throughout the process.

Decline in Calcutta Stock Exchange Listings

This decision also highlights a broader trend in India’s capital markets. The Calcutta Stock Exchange, once a prominent trading platform, has seen significant decline in trading activity in recent years. Many companies have already chosen to exit the exchange voluntarily, citing redundancy and lack of benefits due to minimal investor engagement on the platform.

Hence, RDB Real Estate Constructions Limited is not alone in its strategic decision. Several firms have found it more beneficial to maintain listings only on active exchanges like BSE and NSE, where trading volumes are much higher and investor visibility is greater.

Compliance and Governance

The company’s action reflects sound corporate governance. It is making the announcement well in advance of the board meeting, complying with SEBI LODR Regulation 29(1)(d), which mandates prior intimation to stock exchanges in case of any proposal related to delisting of equity shares.

This also underscores the role of the Company Secretary and Compliance Officer, Ms. Surabhi Kumari Gupta, in ensuring that all corporate actions are documented, communicated, and executed in accordance with legal frameworks. Her name appears in the official communication, signifying that the company’s leadership is fully aligned with compliance protocols.

What to Expect After 09 June

Once the board meeting concludes, RDB Real Estate Constructions Limited will be required to issue a post-meeting outcome notice. If the delisting resolution is passed, a timeline for shareholder voting, regulatory approvals, and share buyback procedures will be released.

Shareholders are advised to follow all official announcements, review the exit price if offered, and consult with financial advisors before taking any action related to shareholding.

Until the delisting process is completed, the company’s shares will continue to trade normally on BSE, and all other operations and compliance functions are expected to continue without disruption.

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