Varroc Engineering Limited — JV/Acquisition, 16-01-2025: Amalgamation/Merger

Varroc Engineering Limited has received approval from the National Company Law Tribunal for the amalgamation of its wholly-owned subsidiary, Varroc Polymers Limited, into itself. The appointed date for this merger is set for April 1, 2024. This strategic move aims to enhance operational efficiency, improve creditworthiness, and streamline management by reducing the number of legal entities within the group. The entire issuance of Varroc Polymers' shares is held by Varroc Engineering, thus no additional shares or consideration will be issued as a result of the amalgamation. This merger is expected to unlock greater value for shareholders by pooling resources and optimizing the use of infrastructure.