S.A.L. Steel Limited — Important, 18-03-2025: Updates

The Board of SAL Steel has acknowledged a fine imposed by stock exchanges for not complying with regulations regarding board composition. The company needs to appoint a sixth director to meet regulatory requirements, a challenge faced due to difficulties in finding suitable candidates for the executive position. Currently, the board consists of three independent directors, including one woman director, which aligns with governance standards. The company has requested a waiver for the fine imposed for previous non-compliance, citing efforts taken to rectify the situation with recent director appointments in November. The Board is committed to ensuring compliance with regulations moving forward and enhancing its internal processes to prevent future occurrences. Investors should monitor this situation closely as regulatory compliance is critical for maintaining operational stability and investor confidence.