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Visual Identity Guidelines for PPT Presentation| 1

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UNLOCKING VALUE THROUGH BUSINESS REORGANISATION

Fund Raising Holding

structure

Operating structure Key learnings

BMR Advisors

October 11, 2013

Bobby Parikh

Partner

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Funding options

| 3Unlocking value through business reorganization

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Reorganizing shareholding structure – key considerations

| 4Unlocking value through business reorganization

Tax optimization now

Future exit considerations

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Shares held by corporate entities

Inter-se transfers to align shareholding with desired split

of sale consideration

Share valuations – tax, exchange control, company law?

Can I build capital overseas?

Post dilution, control within promoter group

Ease of entering into put / call arrangements for future

exit

Future wealth / inheritance planning

Reorganizing shareholding structure – key issues

| 5Unlocking value through business reorganization

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Reorganizing operating structure – key considerations

| 6Unlocking value through business reorganization

Consolidation of businesses across entities

Hiving-off businesses that will not be part of the

transaction

Taking out property / land

Preservation of tax losses / tax incentives

Taking out surplus cash

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Choice of tool for consolidation / separation

Conversion of entities

Anti-abuse provisions

New company law requirements

Transfer of land

Tax losses

Tax incentives

Licenses, rights, permissions

| 7

Reorganizing operating structure – key issues

Unlocking value through business reorganization

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Key Learnings

Advance planning

Commercial basis

Assessments

Unlocking value through business reorganization | 8

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Visual Identity Guidelines for PPT Presentation| 9

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