HLE Glascoat Limited has informed the Exchange about General Updates - Report from the Audit Committee and Independent Directors of the Company certifying distribution of proceeds to eligible shareholders of fractional shares pursuant to the Scheme of Amalgamation of Kinam Enterprise Private Limited (Transferor Company) and HLE Glascoat Limited (Transferee Company) and their respective shareholders and creditors ( Scheme )

HLE Glascoat has completed the procedural step of distributing proceeds from the sale of fractional shares arising out of its amalgamation with Kinam Enterprise Private Limited. The NCLT Ahmedabad had approved the scheme on August 14, 2025, and it was effective from the appointed date of August 7, 2023. Under the share exchange ratio of 100 HLE Glascoat shares for every 559 Kinam shares, the company allotted 11,89,259 equity shares to eligible Kinam shareholders, including 2 fractional shares. These 2 fractional shares were sold in the open market on February 25, 2026 at an average price of Rs. 313, generating gross proceeds of Rs. 626 and net proceeds of Rs. 610.35 after brokerage, which were distributed to the entitled shareholders on March 2, 2026.