This is to inform you that the Board of Directors of the Company at its meeting held on Tuesday, 02nd July, 2024, has, inter alia, considered and approved the following which shall be subject to the approval of shareholders of the Company and applicable regulatory authorities as the case may be: 1. To consider and approve Issuance of up to the extent 2,50,00,000 (Two Crore Fifty Lakh Only) Redeemable Non-Convertible Cumulative Preference shares of face value of Rs.10/- each (Rupees Ten Only) at a premium of Rs 70/- amounting to Rs. 200 Crore in tranches to the Promoter of the Company namely M/s Fedders Holding Limited (Formerly Known as IM+ Capitals Limited), subject to such terms and conditions as may be imposed and subject to approval of shareholders of the Company in the Extra Ordinary General Meetings ('EGM') of the Company scheduled to be held on Thursday, July 25, 2024 ; The Board Meeting commenced at 03:00 P.M and concluded at 04:00 P.M.