Shaily Engineering Plastics Limited — Important, 02-01-2025: General Updates

A wholly owned subsidiary, Shaily Innovations FZCO, has been incorporated in Dubai, UAE. The entity has an issued share capital of AED 100,000, comprising 100 ordinary shares of AED 1,000 each, but has not yet commenced business operations. Shaily Innovations will focus on the design and development of drug delivery devices. The initial cash subscription to the share capital is pending and will result in 100% ownership of Shaily Innovations by Shaily Engineering Plastics Limited. This strategic move indicates a focus on expanding capabilities in the healthcare sector and could enhance the company's growth potential. Watch closely for how this initiative unfolds.