Worth Peripherals Limited — Important, 27-12-2024: Disclosure of material issue

The Board of Directors of Worth Peripherals Limited has decided to acquire an additional 8,10,000 equity shares in its subsidiary, Worth Wellness Private Limited, which will increase its stake from 91% to 100%. Post-acquisition, Worth Peripherals will hold 89,99,999 shares directly and designate one share to Mr. Raminder Singh Chadha as a nominee. Worth Wellness, incorporated in 2020, has not generated any revenue to date. This strategic move aims to solidify control over Worth Wellness, which focuses on manufacturing and trading sanitary products, aligning with Worth Peripherals' objectives for business expansion in the corrugated boxes sector. The transaction involves a cash payment at a fair value of Rs. 10 per share and is set to complete by December 28, 2024, potentially streamlining operations within the group. Shareholders should view this as a strategic consolidation that could enhance operational efficiency and long-term growth prospects.