Gensol Engineering Limited — Updates, 28-03-2025: Press Release

Refex Green Mobility Limited (RGML) and Gensol Engineering Limited have mutually agreed to withdraw from the proposed asset takeover of 2,997 electric vehicles. The decision stems from evolving commitments that would impede the transaction's completion within the initially planned timeline. Both parties expressed appreciation for their collaborative engagement during the discussions. This development reflects Gensol's ongoing focus on innovation and long-term value creation, enhancing its standing in the renewable energy and electric mobility sectors. Investors should keep an eye on this space for future opportunities and strategic advancements.