Abans Enterprises Ltd — Important, 05-02-2026: Company Update

The company announced key board changes and a strategic reversal. Mr. Anurag Kanwatia resigned as Whole-Time Director and CFO, effective February 28. To fill a leadership role, Mr. Deepak Zope, a seasoned finance professional, joins as an Additional Whole-Time Director for three years starting March 1, awaiting shareholder approval. This bolsters leadership for operations and strategy. Significantly, the proposed amalgamation with Abans Jewels Limited has been withdrawn due to changing market conditions and unclear benefits, a decision the company states will not impact its financial health and is best for shareholders. Mr. Jinesh Savla, CEO, is now authorized for material event disclosures.