Styrenix Performance Materials informs about disclosure

27 Mar 2023 Evaluate
Styrenix Performance Materials has informed that the application for re-classification of promoters, which was filed by the Company in terms of Regulation 31A(10), pursuant to an open offer made by Shiva Performance Materials (New Promoter), along with Geetganga Investment, Rakesh Agrawal and Rahul Agrawal to acquire up to 4,572,263 fully paid-up equity shares, representing 26.00% of the voting share capital of the Company in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (Open Offer), which obligation was triggered pursuant to the execution of the share purchase agreement dated 1 August 2022 entered by and between the New Promoter and INEOS Styrolution APAC (Outgoing Promoter) for the sale of 10,761,178 equity shares representing 61.19% of the voting share capital of the Company, has been approved by the stock exchanges. Consequent to the approval of the reclassification application, INEOS Styrolution APAC Pte has ceased to be designated as the promoter of the Company.

The above information is a part of company’s filings submitted to BSE.

Styrenix Performance Share Price

2651.40 -14.45 (-0.54%)
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