Elitecon International Ltd — Important, 27-02-2026: Company Update

Elitecon International is addressing challenges with its planned acquisition of Sunbridge Agro Private Limited (SAPL). The company successfully acquired 31.25% of SAPL's free-float shares using internal funds. However, a proposed Qualified Institutional Placement to fund the remaining portion did not materialize. Furthermore, 44.99% of SAPL's shares, crucial for the deal, remain pledged and were not released as a pre-condition, halting that part of the acquisition. Elitecon’s board has authorized management to explore a structured resolution, including potential restructuring or settlement, and appointed legal advisors. No final decision on reversing the acquisition has been made.