Transaction Background
This disclosure is in continuation to the company's earlier intimation dated May 30, 2026 (Ref No: PSPL/SE/PC/2026-27) regarding execution of the Share Purchase Agreement for the acquisition.
Approval Status
The acquisition proposal has received all necessary internal approvals:
- Recommended by the Executive Committee to the Audit Committee
- Subsequently recommended by the Audit Committee
- Approved by the Board of Directors
- Approved by shareholders of the Company in the General Meeting
Current Status
Following shareholder approval, the company is currently in the process of obtaining necessary approvals from concerned government authorities. The transaction process is now being actively processed for furtherance and completion.
Procedural Progress
All procedural steps, documentation, and conditions precedent as per the Share Purchase Agreement are progressing smoothly. The transaction is on track to be completed within the stipulated timeline.
Future Communications
The company commits to keeping the Stock Exchange duly updated regarding any further material developments or the final completion of the acquisition.