Palash Securities Limited — Important, 18-11-2025: Disclosure of material issue

**Palash Securities Update:** Morton Foods (MFL), previously a subsidiary, completed a Rights Issue, raising Rs. 10.26 Cr by allotting over 44.61 lakh shares.

**The Issue:** Palash Securities (PSL) chose not to participate in MFL's Rights Issue, declining the offer.

**Impact for Investors:** As a direct result, PSL's equity holding in MFL has dropped to 44.95%. MFL is now an associate company, not a subsidiary. This is a key structural shift: MFL's financial results will no longer be fully consolidated into PSL's books. Investors should anticipate changes in PSL's reported financials like revenue and profit.

**Company's Action:** PSL's decision to decline participation in MFL's capital raise reflects a strategic choice, potentially reshaping its asset base and financial reporting going forward.