SRM Energy Ltd — Important, 01-01-1970: Company Update

Mr. Umesh Narpatchand Sanghvi and Mrs. Sapna Sanghvi have launched an open offer to acquire up to 26.00% of SRM Energy Limited's equity shares from public shareholders at `4.00 per share, totaling `0.94 Cr. This follows their agreement to acquire 71.19% of the company from the current promoter for `2.50 Cr. The acquisition signifies a change in company control, with the Acquirers aiming to introduce additional business and operational efficiencies. SRM Energy currently reports negative net earnings and net worth of `(5.50) Cr. The offer's completion is subject to the removal of a BSE freeze on existing shares.