Kindly be informed that the Board of Directors of the Company at its meeting convened and held, at a short notice, today i.e. 27th February, 2025, following recommendation of Nomination and Remuneration Committee, has a)accepted resignation of Managing Director of the Company, Mr. James Leacock McIntosh (DIN : 09287829) effective end August, 2025, in terms of Clause 10(e) of Agreement entered by the Company with him. b)announced as succession planning measure that Mr Mihir Prakash Bajoria (DIN : 09346426), presently Chairman of Company's UK Subsidiary, Monocon International Refractories Limited, will assume the position of Managing Director of the Company pending finalization of terms and conditions including remuneration and subject to necessary approvals w.e.f 1st September, 2025