Max Estates Limited — Important, 26-02-2025: Updates

Max Estates Limited has received a request from Neelu Analjit Singh, a promoter holding 35,76,581 equity shares, seeking reclassification of her status from the 'Promoter and Promoter Group' category to the 'Public' category. This reclassification request aligns with a recent settlement agreement she executed with Mr. Analjit Singh, the Company’s Chairperson, regarding the segregation of their assets and control over the company. Following a divorce decree, Neelu confirms that she will not hold more than 10% of voting rights, will not have control over company affairs, and will not serve on the board or as a key managerial person post-reclassification. The company will comply with necessary procedures following the request. This development may enhance the liquidity of shares and broaden the investor base, impacting shareholder dynamics positively.