Ashapura Minechem Ltd

Director retirement and KMP appointment

• Retirement of Shri Chetan Shah as Director at AGM conclusion (29 Sep 2026).
• Role change: Chief - Strategy & Planning (KMP) from 1 Oct 2026.
• Impact on board: ceases as Director; remains in management as KMP.
• Reason: transition to a new strategic role with the company.

Appointment of WTD

• Co-opted Manan Shah as Additional Director and WTD - Business Development for 5 years, effective 01 Oct 2026.
• Subject to Members’ approval.

KMP designation

• Designation as Whole Time Director makes him Key Managerial Personnel under Companies Act, 2013.

Background and experience

• Over a decade with Ashapura Group; oversees India operations across four verticals.

Related-party disclosures

• Son of promoter Chetan Shah; brother of director Himani Shah; no other related-party ties.

Regulatory disclosure authority

• Authorized to determine materiality of events/disclosures with Company Secretary under Reg 30(5).

Annexure details

• Annexure I attached detailing appointment and related-party information.

AGM details

• AGM held on Tuesday, 29 September 2026 at 3:00 PM IST via Video Conferencing/e-AGM.

Voting materials

• Voting results for resolutions reported with Scrutinizer's report.

Ashapura Minechem Limited: Closure of Trading Window from 01 October 2026 until end of 48 hours after declaration of Unaudited financial results (provisional) for the quarter ending 30 September 2026

Penalty order details

• Awarding authority is Geology and Mining Department of Gujarat.
• Order dated 22 September 2026, received 23 September 2026.
• Penalty amount of Rs 6,13,173 under Gujarat Minerals Rules, 2017.
• Payment is required; company to escalate with the Appellate Authority.
• Nature and scope: penalty under Rule 22 of Gujarat Minerals Rules, 2017.
• Expected impact: no material operational or financial impact anticipated.
• Jurisdiction: domestic, Gujarat, India.

Transaction details

• Acquisition date: 1 September 2026; gift without consideration under SEBI Order WTM/KCV/CFD/16/2025-26.
• Acquirers: Himani Ankur Shah Family Trust and Manan Chetan Shah Family Trust; promoter-group.
• Sellers: Dina Chetan Shah and Chetan Navnitlal Shah (via Ashapura Industrial Finance Limited).
• Purpose: succession planning and intra-promoter family reorganization under exemption order.
• Gift/no monetary consideration; no open offer triggers under Regulation 3(1), 4 and 5.

Shareholding impact

• Ashapura Minechem collectively held by acquirers 2,53,23,905 shares (~26.51%).
• Post-transaction acquirer holdings: 66,96,379 (7.01%), 16,71,707 (1.75%), 1,69,55,819 (17.75%).
• Ashapura Industrial Finance Limited's 1,69,55,819 shares (17.75%) transferred to acquirers; post-holding 0.
• Dina Chetan Shah holding: 9,202,360 shares (9.63%) before; 25,05,981 shares (2.62%) after.
• Chetan Navnitlal Shah (through Ashapura Industrial Finance Limited) held 66,77,767 shares (6.99%) before; unchanged after.
• Aggregate acquirer holdings equal about 26.51% of Ashapura Minechem.

Regulatory compliance

• Report filed with SEBI within 21 working days of acquisition.
• Exemption under Regulation 11; Regulation 10(7) fee not applicable; INR 5,00,000 paid with exemption application.
• Disclosures filed with stock exchanges under Regulation 29(2) for disposal and indirect holdings.
• Promoter-group status confirmed and disclosures made.

Target company details

• Target company is Ashapura Minechem Limited; listed on BSE and NSE.
• Total equity capital before/after: 9,55,26,098 shares of Rs 2 each.
• Date of acquisition: 1 September 2026.
• Mode: Off-market gift under SEBI exemption order WTM/KCV/CFD/16/2025-26.
• No change in total post-acquisition share capital.

Dividend and tax update

• Board recommended final dividend of Rs 2 per equity share for FY2025-26.
• Dividend payable subject to shareholder approval at the AGM.
• Record date fixed at 22 September 2026.
• TDS on dividends will be deducted at prescribed rates.
• Resident with PAN: 10%; without PAN: 20%.
• No TDS if total dividend FY2026-27 < Rs 10,000.
• NRs may claim DTAA benefits with required documentation.
• Shareholders must update PAN, bank details, email, and KYC by 22 Sep 2026.
• Tax exemption forms via MUFG Intime India; Form 121/41 submission by 22 Sep 2026.
• Company may deduct higher TDS if documents are incomplete; refunds available via filing.

Ashapura Minechem Ltd – Reg. 29(2) disclosure

• Target Company: Ashapura Minechem Ltd.
• Disclosing Party: Eriska Investment Fund Ltd; not promoter group.
• Transaction Type: Acquisition of voting rights in Ashapura Minechem Ltd.
• Pre-transaction holding: 4,972,345 shares, 5.2052% voting rights.
• Transaction details: acquired 1,993,000 VRs, 2.0864%; Market trades.
• Post-transaction holding: 6,965,345 shares, 7.2916%.
• Dates: 11 Aug 2026, 20 Aug 2026, 28 Aug 2026, 4 Sep 2026, 10 Sep 2026, 16 Sep 2026.
• Share capital context: before/after 95,526,098 shares; diluted 95,526,098 shares.

Dividend tax and payout update

• Final dividend proposed: Rs 2.00 per equity share for FY2025-26, subject to AGM approval.
• Record date fixed at 22 September 2026 for dividend entitlement.
• Dividend payout via electronic credit to updated demat bank accounts.
• TDS on dividends: 10% for resident with PAN; 20% for resident without PAN.
• No TDS if total FY2026-27 dividend does not exceed Rs 10,000.
• Non-resident withholding: 20% or lower under DTAA with required documentation.
• Deadline to submit Form 121/41 and related documents: 22 September 2026.
• Board meeting 28 May 2026 approved final dividend recommendation.
• Shareholders must update PAN, email, and bank details with DPs by record date.