Kiri Industries Limited — Important, 31-01-2025: Updates

Kiri Industries Limited achieved a significant legal victory in Singapore, with the Court of Appeal ruling in its favor against Senda International Capital Limited. The court dismissed Senda's appeal and confirmed Kiri's claim for priority payment connected to the en bloc sale of DyStar, awarding Kiri entitlement to US$603.80 million, along with interest calculated at 5.33% per annum, retroactive from September 3, 2023, until payment is made. Senda is also responsible for covering Kiri's legal costs related to this matter. This ruling further strengthens Kiri's financial position and reflects its ongoing efforts to resolve disputes related to minority shareholder oppression. Investors should monitor the company's execution of the en bloc sale and subsequent revenue realization, as these developments have the potential for positive outlook in Kiri's financial performance.