Cravatex Ltd. — Capital/Financing Update 2022

Jul 12, 2022

Registered Office : Ground Floor (East Wing), Forbes Building, Charanjit Rai Marg, Fort, Mumbai – 400 001 CIN L93010MH1951PLC008546

Telephone No. : +91 22 6666 7474 Email : info@cravatex.com Website : http://cravatex.com/

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July 12, 2022

BSE Limited Department of Corporate Services (DCS-Listing) Phiroze Jeejeebhoy Towers Dalal Street Mumbai – 400 001

Company Code: 509472

Dear Sirs,

• Sub: Offer for Redemption of 25,00,000 nos. of 4% Non–Convertible Cumulative Redeemable Preference Shares issued on Private Placement basis (Unlisted).

• Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

We wish to inform you that the Company had allotted 90,00,000 nos. of 4% Non– convertible Cumulative Redeemable Preference Shares of Rs.10/- each (“Preference Shares”) aggregating to Rs.9,00,00,000/- on Private Placement basis as approved by the allotment committee in its meeting held on April 12, 2016. The said preference shares are not listed on the Exchange. The Company had partly redeemed 14,25,000 nos. of Preference Shares aggregating to Rs.1,42,50,000/-. Consequent to the said redemption, the paid-up Preference Share Capital of the Company was reduced to 75,75,000 nos. of Preference Shares aggregating to Rs.7,57,50,000/-.

We now wish to inform you that the Board of Directors of the Company on July 11, 2022 have offered for further redemption of 25,00,000 nos. of Preference Shares aggregating to Rs.2,50,00,000/- on proportionate basis to those Preference Shareholders whose name appears in the Register of Preference Shareholders as on July 11, 2022. Consequent to the said redemption, the paid-up Preference Share Capital of the Company will stand reduced to 50,75,000 nos. of Preference Shares aggregating to Rs.5,07,50,000/-.

The Board of Directors proposes that in case any Preference Shareholder does not accept the offer, the Company shall redeem the balance Preference Shares to the remaining consenting Preference Shareholder (those who have agreed for early redemption).

Kindly take note of the above.

Thanking You, For Cravatex Limited

Digitally signed by SUDHANSHU NAMDEO DN: c=IN, o=Personal,

DN: c=IN, o=Personal, SUDHANSH 2.5.4.20=925a3182dfaeb944aef04c218275696ed8797edcd95692041189f0d7dbd75ba8, postalCode=410218, st=Maharashtra, serialNumber=ed5747e3e6b898fec2d221861 U NAMDEO 890d0b5acbfee35124932f1bd649a2993918105, cn=SUDHANSHU NAMDEO Date: 2022.07.12 10:29:43 +05'30'

Sudhanshu Namdeo Company Secretary Membership No. A17132