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Awaiting price reaction for this filing.
Stovec Industries Ltd has signed a three-year wage agreement on 29th May 2025 with the Stovec Industries Limited (Screen Division) Employees Union. The agreement covers the period from 1st January 2025 to 31st December 2027. The company clarified that this agreement does not impact management or control of the listed entity, and it does not qualify as a related party transaction. Stovec is a subsidiary of SPGPrints B.V., The Netherlands, and the filing is being made under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
This is a routine labor relations update that provides wage certainty and labor peace at the Screen Division for three years, reducing the risk of disputes or strikes. Investors should note that wage costs are now locked in for this period, but no material financial or strategic impact on shareholders is indicated.