The Prompter of the Company Mr A V Palaniswamy entered into a Share Purchase Agreement with Himgiri Castings Private Limited to sell his entire shareholding of 30,92,093 (34.04%) in the Company.\r\n\r\nThe Board of Directors at their meeting on 22.05.2025 took note of the SPA and reviewed the associated compliances and obligations arising therefrom. \r\n\r\nThe signing of SPA attracts the provision of Regulation 3(1) and 4 of SEBi (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 to make Open Offer by the Acquirer.\r\n\r\nS Aravinthan\r\nCompany Secretary