Ashima Ltd — Board/Management Information 2024

Sep 27, 2024

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27[th] September, 2024

To,

To,

BSE Limited Na�onal Stock Exchange of India Ltd. Corporate Rela�onship Department, Exchange Plaza 5[th] Floor, Plot no. C/1, 25[th] Floor, P J Towers, Dalal Street, G Block, Bandra Kurla Complex, Fort, Mumbai – 400001 Bandra (East), Mumbai – 400051 SECURITY CODE NO. 514286 SECURITY CODE NO. ASHIMASYN

Dear Sir/ Madam,

Sub: Outcome of Board Mee�ng held on 27[th] September, 2024

With reference to the cap�oned subject ma�er and pursuant to the provisions of Regula�on 30 read with Para A of Part A of Schedule III of SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015, this is to inform you that the Board of Directors of the Company at its mee�ng held today i.e. 27th September, 2024, inter-alia, has approved the following ma�ers:

1. Proposed disposal of the opera�onal movable assets, including any brand name, but excluding land and building, of the co�on tex�les opera�ons of the company subject to prior approval of the shareholders of the Company by way of a Special Resolu�on.

The detailed disclosures as required under Regula�on 30 of the SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023 in this regard is enclosed as Annexure I.

1. Approval of Postal Ballot No�ce dated 27th September, 2024 for seeking prior approval of the shareholders for the proposed disposal of the assets as referred above.

The mee�ng of the Board of Directors commenced at 11:33 a.m. and concluded at 11:45 a.m.

This is for your informa�on and records.

Thanking you,

Yours faithfully,

For, Ashima Limited

Shah Harshil Ketanbhai 2024.09.27 11:51:32 +05'30'

Harshil K. Shah

Encl: As above

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Annexure - I

Disclosure as per Regula�on 30 of the SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023

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Sr. Par�culars Details
No.
1. The amount and percentage of the (Amt in Rs. in lacs)
turnover or revenue or income and Particulars Textile Total for the Textile as
operations Company % of total
net worth contributed by such unit
Revenue (FY 23,983 32,944 72.80%
or division or undertaking or
2023-24)
subsidiary or associate company of
Profit after tax (750) 9,658 NA
the listed en�ty during the last -
(FY 2023 24)
financial year. Net worth (as at 24,133 31,686 76.16%
March 31, 2024)
2. Date on which the agreement for No agreement has been entered into with anyone un�l the
sale has been entered into; approval of shareholders is obtained.
3. The expected date of comple�on of By March 31, 2025.
sale/disposal
4. Considera�on received from such Not applicable, in view of facts stated in reply to point 2
sale/disposal; above.
5. Brief details of buyers and whether Not applicable, in view of facts stated in reply to point 2
any of the buyers belong to the above.
promoter/ promoter group/group
companies. If yes, details thereof;
6. Whether the transac�on would fall Not applicable, in view of facts stated in reply to point 2
within related party transac�ons? If above.
yes, whether the same is done at
“arm’s length”;
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Shah Harshil Ketanbhai 2024.09.27 11:52:21 +05'30'

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7. Whether the sale, lease or disposal Yes, the disposal of the substan�al movable assets of the
of the undertaking is outside co�on tex�le opera�ons of the Company is outside any
Scheme of Arrangement? If yes, Scheme of Arrangement. However, the proposed
details of the same including transac�on falls within the purview of clause (a) of
compliance with regula�on 37A of subsec�on (1) of Sec�on 180 of the Companies Act, 2013.
LODR Regula�ons. Therefore, Regula�on 37A of the LODR Regula�ons is
applicable.
A. Object of such sale, lease or The assets proposed to be disposed off belong to the
disposal of undertaking: co�on tex�le opera�ons of the Company, which have been
closed recently. Upon closure of these opera�ons, the
assets are not required to be held and hence the same are
proposed to be disposed off.
B. Commercial Ra�onale of such As stated in reply to point 7(A) above.
sale, lease or disposal of
undertaking:
C. Use of proceeds arising The proceeds would be used for business purpose,
therefrom: including other exis�ng businesses of the Company,
namely real estate and investment ac�vity, which have
been profitable for the Company, and any new business
including technical tex�les that may be considered on a
later date.
8. Addi�onally, in case of a slump sale, Not applicable, as the transac�on is not a slump sale.
indica�ve disclosures provided for
amalgama�on/merger, shall be
disclosed by the listed en�ty with
respect to such slump sale.
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Shah Harshil Ketanbhai 2024.09.27 11:52:46 +05'30'

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