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

Vardhman Textiles has approved a Shareholders Agreement (SHA) with Aichi Steel Corporation (ASC) and other promoters of Vardhman Special Steels Ltd, following ASC’s stake increase to 24.90%. The agreement sets clear rights and obligations, including lock-in periods and non-compete clauses, to protect their partnership. It also includes safeguards like Right of First Refusal and Tag Along Rights to regulate share transfers and prevent competitors from gaining control. The SHA stays effective as long as the parties hold shares above specified thresholds.