The delisting proposal of Elcid Investment has not been approved by the shareholders of the Company

11 May 2022

We regret to tell you that, in accordance with Regulation 11(4) of the Delisting Regulations, the required majority to pass the aforementioned resolution was not attained until the deadline.

Friday, May 6, 2022, has been set aside for remote e-voting. As a result, the proposed delisting of Dipika and other members of the Company's promoter and promoter group, Ms Dipika Amar Vakil, Mr Varun Amar Vakil, and Chemicals Private Limited ("Acquirer") Persons operating in conjunction with the Acquirer, Amar Arvind Vakil HUF, have not been authorised.