We hereby attaching the board meeting outcome
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Oxygenta Pharmaceutical Ltd informed the stock exchange that Virupaksha Organics Limited has successfully completed the open offer and taken over as the new promoter of the company, effective June 20, 2025. Following the takeover, the board was completely reconstituted — 6 new directors (2 executive, 1 non-executive, and 3 independent) were appointed for a 5-year term, while 6 existing directors (3 executive and 3 independent) tendered their resignations citing the change in management. All board committees (Audit, Nomination & Remuneration, Stakeholders' Relationship) were also reconstituted with effect from June 20, 2025.
This marks a complete change of control at Oxygenta Pharmaceutical, with Virupaksha Organics now as the new promoter — shareholders should expect a strategic shift in business direction under new management. The stock may see volatility around the new leadership; minority shareholders no longer have representation from the old promoter group on the board.