Alicon Castalloy Limited — Important, 29-03-2025: Updates

The Board of Directors has decided to seek shareholders’ approval for the appointment of Mr. Ajay Nanavati as a Non-Executive, Non-Independent Director effective from 30th April, 2025. This move follows the expiration of his five-year term as an Independent Director on 29th April, 2025. Mr. Nanavati is not related to any other board members and holds no shares in the company. This transition in his role could signal a strategic shift in governance, impacting the overall direction and decision-making processes within the company. Shareholders should monitor further developments regarding this appointment as it may influence future operations and management structures.