Disclosure of details of Appointment and Resignation of Directors/KMPs and reclassification of Promoter/Public shareholder pursuant to Open offer

Kandagiri Spinning Mills has undergone a complete change of management following the open offer by acquirer Akshayam Creations LLP. The existing promoter directors — Managing Director R. Selvarajan, Non-Executive Directors S. Devarajan and A. Sarayu, Independent Director and Chairman S. Elangovan, and CFO S. Vijay Shankar — have all resigned. In their place, partners of Akshayam Creations LLP have been appointed: S. Sivakumar as the new Managing Director (3-year term), Adinarayana Sripathy Kumar as Chairman and Non-Executive Director, Manoj Kumar Maurya as CFO and Additional Director (3-year term), and CA R. Raveendran as an Independent Director. The Board also reclassified Akshayam Creations LLP and its partners as the new Promoter group, while all previous promoter shareholders (including deceased shareholder M. Rajamani holding 4.18%) have been moved to the Public category as their shares have already been transferred to the acquirer under the Share Purchase Agreement dated 3 February 2025.