Vardhman Holdings Limited — Board Meeting, 02-06-2025: Outcome of Board Meeting

Vardhman has announced a board meeting approving a new Shareholders Agreement between Vardhman Holdings, Aichi Steel Corporation (ASC), and other promoters of Vardhman Special Steels Ltd (VSSL). ASC’s stake in VSSL has risen to 24.9%. The agreement includes controls on share transfers, restrictions on sales to competitors, lock-in periods, non-compete and non-solicit clauses, and indemnity terms. This pact ensures aligned governance and protects the interests of key shareholders until ASC’s holding falls below specified levels.