Nature of change: Appointment of two Non-Executive Independent Directors
Mr. Arpit Kalani (DIN: 09734386): Appointed as Non-Executive Independent Director for a term of 5 consecutive years from July 15, 2026 to July 14, 2031 (both days inclusive). He is an Associate Company Secretary with expertise in secretarial practices, corporate compliances, and allied legal and regulatory matters. Possesses hands-on experience in managing statutory and regulatory compliances under the Companies Act and other applicable laws. Proficient in various application software with sound understanding of accounting, finance, taxation, auditing, legal drafting, and corporate laws.
Mr. Tapan Tanmay Kothari (DIN: 11798942): Appointed as Non-Executive Independent Director for a term of 5 consecutive years from July 15, 2026 to July 14, 2031 (both days inclusive). Holds Master of Business Administration (MBA) and Master of Commerce (M.Com) degrees. Brings diversified professional experience across banking, administration, sales, and event management. Possesses managerial, operational, and business development expertise.
Eligibility Confirmation: Both directors are not debarred from holding office of Director by virtue of any SEBI Order or any other such Authority, in compliance with SEBI Letter dated June 14, 2018 read with BSE Circular No. LIST/COMP/14/2018-19 and NSE Circular No. NSE/CML/2018/24 dated June 20, 2018.
Relationship Disclosure: Neither director is related to any other director of the Company.
Approval Process: Appointments were recommended by Nomination and Remuneration Committee (NRC) and approved by the Board of Directors at its meeting held on July 15, 2026, with final approval by shareholders at the 34th Annual General Meeting held on August 25, 2026.
Strategic or Business Context
Preferential Issue Object Modification: Shareholders approved modification in the first object of the preferential issue as stated in the Notice of Extra-Ordinary General Meeting dated May 14, 2025.
Original Object: To construct, build, operate, establish, develop, acquire, purchase land for, and invest in Plug and Play Office Complex, AI Park, IT Park, residential and industrial complexes through self, subsidiary(ies) or in joint collaboration.
Revised Object: To construct, build, operate, establish, develop, acquire, purchase land for, and invest in Plug and Play Office Complexes, AI Parks, IT Parks, Data Centers, residential and industrial complexes, including hotels, resorts and other hospitality related businesses, whether directly or through subsidiary(ies) or in joint collaborations.
Justification: To align utilisation of proceeds with emerging business opportunities and long-term growth objectives of the Company.
Expected Benefits: Diversification of business activities, enhanced growth prospects, optimum deployment of capital and creation of long-term shareholder value.
Any Other Material Information
Regulatory Compliance: Disclosure made under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular HO/49/14/14(7)2025- CFDPOD2/I/3762/2026 dated 30th January, 2026.
Voting Results: The voting results along with the Scrutinizer's Report have been submitted separately to the Stock Exchanges.
Company Details: Scrip Code: 543743 (BSE), Trading Symbol: AERONEU (NSE)
