NRB Industrial Bearings Limited — Important, 19-02-2025: General Updates

A family settlement agreement has been executed among members of the NRB Group and the NIBL Group, resolving all claims related to preference shares held by the late Mr. Trilochan Santsingh Sahney. Notably, Mrs. Hanwantbir Kaur Trilochan Singh Sahney and Ms. Harshbeena S. Zaveri have agreed to forgo all benefits associated with these shares in favor of Mr. Deveshsingh Trilochansingh Sahney. Additionally, the Board of Directors has approved a Renunciation of Rights on Preference Shares Agreement, confirming that the aforementioned parties have irrevocably renounced their claims and interests in the preference shares. This development may simplify the shareholding structure and could positively impact governance moving forward.