Kanoria Chemicals & Industries Limited — Others, 04-08-2025: Shareholders meeting

Kanoria Chemicals is seeking shareholder approval to sell its 100% stake in material subsidiary APAG Holdings AG and its step-down subsidiaries. This divestment addresses challenges in the global automotive sector that impacted APAG's operations. The transaction involves the buyer injecting USD 19,376,440 (EUR 17,776,550) into APAG, ensuring the full recovery of loans extended by Kanoria Chemicals to its subsidiary. Post-infusion, Kanoria Chemicals' stake in APAG will reduce from 55% to approximately 14.3%. This strategic move aims to mitigate risks, recover outstanding loans, and allow the company to focus on its core operations, enhancing overall shareholder value. The Board expresses its support for this resolution.