Update to Scheme of Amalgamation - The Board of Directors has approved the cancellation of 1,11,60,093 fully paid-up equity shares of Rs. 10/- held by the Transferor Company in the Company and allotted an equivalent number of equity shares to the Shareholders of the Transferor Company as on Record Date. There is no increase in the issued and paid-up equity share capital of the Company pursuant to the said allotment.

TVS Electronics' Board has approved actions under its ongoing Scheme of Amalgamation. The company will cancel 1,11,60,093 equity shares of Rs. 10 each that the Transferor Company currently holds in TVS Electronics. In place of these cancelled shares, an equal number of fresh equity shares will be allotted directly to the shareholders of the Transferor Company. This swap is a standard step in amalgamations to eliminate cross-holdings between merging entities. Importantly, the total issued and paid-up share capital of TVS Electronics will remain unchanged since the number of shares cancelled equals the number newly allotted.