Galaxy Bearings Ltd — Updates, 13-05-2025: Company Update

Galaxy Bearings Limited has applied through its US legal counsel for expedited removal from the US Treasury’s OFAC Specially Designated Nationals and Blocked Persons (SDN) List. The company is actively working to resolve this issue, aiming to lift restrictions that impact its international operations and reputation. Management remains focused on maintaining transparency and will update shareholders on significant progress. This development is critical as removal from the sanctions list would enhance the company’s global business prospects and stakeholder confidence.