Disclosure of details of Change in Management Control - Appointment and Resignation of Directors/KMPs and reclassification of promoter/public shareholder

Kandagiri Spinning Mills has seen a complete change in its board and top management following the completion of an open offer by acquirer Akshayam Creations LLP, in line with a Share Purchase Agreement signed on 3 February 2025. All four existing promoter directors and KMPs have resigned — Managing Director R. Selvarajan, CFO S. Vijay Shankar, Non-Executive Directors S. Devarajan and Dr. A. Sarayu, and Independent Director CA S. Elangovan. In their place, partners of the acquirer LLP have taken charge: S. Sivakumar as Managing Director (3-year term), Adinarayana Sripathy Kumar as Chairman, and Manoj Kumar Maurya as CFO. CA R. Raveendran has been appointed as the new Independent Director. Akshayam Creations LLP has been reclassified as the new promoter, while 30 existing promoter shareholders (including 4.18% held by a deceased promoter) have been reclassified to public category after transferring their shares to the acquirer.