Duke Offshore 40th AGM Notice and Corporate Updates

40th Annual General Meeting Details

Meeting Date: Wednesday, September 30, 2026 at 11:30 AM IST

Mode: Video Conferencing/Other Audio Visual Means

Venue: Deemed to be at Registered Office - 3A, 3rd Floor, Mansionz One, Plot No 260-265, Linking Road, Bandra (W), Shopper Stop, Mumbai-400050

E-Voting Arrangements

E-Voting Period: September 26, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)

E-Voting Service Provider: Purva Sharegistry India Private Limited

Scrutinizer: Mr. Puneet Motwani (cspuneet5@gmail.com)

Contact: evoting@purvashare.com

Book Closure

Period: September 24, 2026 to September 30, 2026 (both days inclusive)

Purpose: For the 40th Annual General Meeting

Business to be Transacted

Ordinary Business

1. Adoption of Financial Statements: To receive, consider and adopt the Audited Standalone Financial Statements for FY ended March 31, 2026, together with reports of Directors and Auditors

Special Business

2. Regularization of Mr. Ashutosh Janak Kumar Thakar: Appointment as Director and Whole-Time Director for 5 years from July 27, 2026 to July 26, 2031 at nil remuneration (DIN: 10251729)

3. Regularization of Mrs. Aksha Mohit Kamboj: Appointment as Non-Executive Non-Independent Director (DIN: 03347200)

4. Regularization of Mr. Sukumar Anand Shetty: Appointment as Non-Executive Non-Independent Director (DIN: 03540525)

5. Regularization of Mr. Rajesh Chunilal Bhojani: Appointment as Non-Executive Independent Director for 5 years from July 27, 2026 to July 26, 2031 (DIN: 01804482)

6. Regularization of Mr. Vaibhav Agarwal: Appointment as Non-Executive Independent Director for 5 years from July 27, 2026 to July 26, 2031 (DIN: 11267514)

7. Regularization of Mr. Arjun Bikas Dutta: Appointment as Non-Executive Independent Director for 5 years from July 27, 2026 to July 26, 2031 (DIN: 11845860)

8. Change in Memorandum of Association: Alteration of Object Clause to include:

• Mining, minerals, metals, ores, quarrying, processing
• Power, energy, offshore, deep-sea, marine resources
• Artificial intelligence, data centers, computing, digital infrastructure

9. Sale of Fixed Assets: Approval for sale of marine vessels, speed boats and other fixed assets up to ₹100 crores

10. Increase in Authorized Share Capital: From ₹30 crores to ₹100 crores divided into 10 crore equity shares of ₹10 each

11. Related Party Transactions Approval for FY 2026-27:

• Loan/Borrowing from Aspect Global Ventures Private Limited (Promoter): ₹100 crores
• Lease with Aspect Infrastructure and Project Management Private Limited: ₹10 crores

12. Approval under Section 186: Enabling approval for loans, guarantees, securities and investments up to ₹500 crores aggregate outstanding

Financial Highlights (FY 2025-26)

Total Income: ₹155.48 lakhs (Previous year: ₹73.67 lakhs)

Profit Before Tax: Loss of ₹64.82 lakhs (Previous year: Loss of ₹219.77 lakhs)

Profit After Tax: Loss of ₹64.82 lakhs (Previous year: Loss of ₹219.77 lakhs)

Earnings Per Share: -₹0.66 (Previous year: -₹2.23)

Net Worth: ₹419.27 lakhs (Previous year: ₹483.22 lakhs)

Board Reconstitution (Effective July 27, 2026)

Resignations:

• Mr. Avik George Duke (Managing Director) - DIN: 02613056
• Mr. Vipul Patel (Executive Director) - DIN: 08041219
• Mr. Pranay Mehta (Non-Executive Independent Director) - DIN: 00061289
• Mr. Ameet Avinash Kimbahune (Non-Executive Independent Director) - DIN: 02085035
• Ms. Revati Ganesh Pambala (Non-Executive Independent Woman Director) - DIN: 09455646
• Mr. Venkatesham Gangadhar Busa (CFO) - Resigned

New Appointments:

• Mr. Ashutosh Janak Kumar Thakar: Additional Director (Executive Director/Whole-Time Director)
• Mrs. Aksha Mohit Kamboj: Additional Director (Non-Executive Director)
• Mr. Sukumar Anand Shetty: Additional Director (Non-Executive Director)
• Mr. Rajesh Chunilal Bhojani: Additional Director (Non-Executive Independent Director)
• Mr. Vaibhav Agarwal: Additional Director (Non-Executive Independent Director)
• Mr. Arjun Bikas Dutta: Additional Director (Non-Executive Independent Director)

Change in Promoter Group

Share Purchase Agreement: Dated June 11, 2026 between erstwhile promoters and Aspect Global Ventures Private Limited

Shares Transferred: 69,59,800 equity shares (70.61% of paid-up capital) at ₹30 per share

Open Offer: For 25,62,872 shares (26% of voting capital) at ₹30 per share

Transaction Completed: July 21, 2026

New Promoter: Aspect Global Ventures Private Limited

Asset Details

Marine Vessels Carrying Value: ₹241.84 lakhs as on March 31, 2026

Right of Use Asset (Office Premises): ₹23.78 lakhs

Proposed Asset Sale: Up to ₹100 crores value

Capital Structure

Current Authorized Capital: ₹30 crores (3 crore shares of ₹10 each)

Proposed Authorized Capital: ₹100 crores (10 crore shares of ₹10 each)

Paid-up Capital: ₹9.85 crores (98,57,200 shares of ₹10 each)

Auditors

Statutory Auditors: Kirtane & Pandit LLP, Chartered Accountants (FRN: 105215W/W100057)

Secretarial Auditors: R S Rajpurohit & Co., Practicing Company Secretaries

Registered Office & Contact

Address: 3A, 3rd Floor, Mansionz One, Plot No 260-265, Linking Road, Bandra (W), Shopper Stop, Mumbai-400050

RTA: Purva Sharegistry India Pvt Ltd, Mumbai

Important Dates

Record Date: September 23, 2026

E-Voting Period: September 26-29, 2026

AGM Date: September 30, 2026

Board Meeting Dates during FY 2025-26: May 30, July 18, August 14, November 14, February 14